OREANDA-NEWS. On 17 March 2009 was announced, that Moody‘s Investors Services rating agency had confirmed a Ba3 international credit rating of OGK-1 with the “stable” outlook. At the same time Moody's Interfax Rating Agency has confirmed Aa3.ru national scale rating of OGK-1.

These ratings reflect OGK-1 solid market positions in the unified energy systems of Central Russia and Urals, as well as its stable financial condition and relatively conservative financial policy regarding its investment program.

Moody‘s gives a positive assessment of company's ability to adjust the amount and timing of its investment program depending on the funding availability in a balanced mix of debt and equity.

Company’s management commitment to a limited use of debt funds to finance the investment program at the level, necessary to meet company’s financial obligations and support current credit ratings, is among the positive aspects of OGK-1 financial policy.

The stable credit rating is also explained by the perspective of the further energy market liberalization and an efficient work of OGK-1 on the market, aimed at revenue and profitability increase, and company’s shareholders support (majority-state-controlled FGC UES and RusHydro). The Russian government shows an active interest in the electric utility sector’s investment strategies, which are regarded as key requirements for the country’s further economic growth.

OGK-1 Chief Executive Officer Vladimir Khlebnikov says, that the stable rating confirmation is an acknowledgement of an efficient company’s management, provided by company’s top-managers and controlling shareholders in difficult conditions.

We remind, that OGK-1 was one of the first wholesale power generating companies to obtain an international credit rating and was rated for the first time in 2007.