OREANDA-NEWS. December 16, 2011.  On the 14th of December 2011 the credit rating service Standard & Poor’s raised the term credit rating of the Russian public holding Atomenergoprom up to BBB from BBB-. At the same time, it confirmed the short-term rating А-3 and national scale rating ruAAA, with “Stable” forecast for the ratings.
 
Atomenergoprom for the first time produced an audited financial statement for 2010 as per IAS and that, Standard & Poor’s believe, conditioned improvement of transparency and a reduction in information risk.
 
“The Russian nuclear industry is on the upgrade: as of the end of 2011 we have a portfolio of orders for construction of 21 power units abroad, and in Russia there are 10 power units at different stages of construction. We consider the increase of the term rating an objective response to the measures on enhancement of transparency of our activities that we are implementing,” Nikolay Solomon, First Deputy Director of ROSATOM, commented on the rating increase.
 
The Standard & Poor’s report notes that the vertically integrated business pattern and state monopoly in the sphere of the civil nuclear industry in the Russian Federation produce a positive effect on the company’s business solvency. Ratings of Atomenergoprom reflect a very high probability of the holding to get a timely and sufficient urgent support from the Government of the Russian Federation in case of a financial stress. Besides, Atomenergoprom holds strong positions in the world market segments such as mining, conversion, enrichment of uranium and fabrication of fuel rods.
 
Atomenergoprom is an integrated company that consolidates civil assets of the Russian nuclear industry. It is 100% owned by ROSATOM which unites more than 250 enterprises and scientific organizations, including all civil companies of the Russian nuclear industry, enterprises of the nuclear weapons complex, research institutions and the world’s only nuclear icebreaker fleet.