OREANDA-NEWS. On 10 April 2009 was announced, that the international ratings agency “Standard & Poor’s“ has fulfilled the request of Lietuvos Energija AB to withdraw its corporate credit ratings. Moreover, “Standard & Poor’s”, with regard to downgrade of the Republic of Lithuania, prior to its withdrawal, announced that it downgrades the company’s long-term credit rating from BBB+ to BBB and short-term credit rating from A-2 to A-3.

“The Management Board has issued a request to withdraw its credit ratings since LEO LT AB requested that “Standard & Poor‘s" performs credit rating services for the entire group“, says Mrs. Aldona Jakutiene, Deputy CEO for Finance, Lietuvos Energija AB.

Briefly about Lietuvos Energija AB:

Lietuvos Energija AB is a subsidiary of the national investment company LEO LT AB, which performs functions of electricity transmission grid (110-330 kV voltage) owner, system operator and market operator and seeks to ensure the stability of electricity transmission and power system in Lithuania. LEO LT AB controls 96.4 per cent of Lietuvos Energija AB shares.