OREANDA-NEWS. National Rating Agency has affirmed its national scale 'AA-' credit rating on TM-Energo Finance LLC.

The rating recognizes TM-Energo Finance's strong shareholders who have the resources and competences to help the company with its project, as evidenced by the consistent delivery of the business plan targets. The rating also benefits from the project's importance for the regional economy, its high attractiveness to investors and effective organizational structure, as well as the high project management standards.

Offsetting these strengths are the company's remaining high debt burden, stemming from the project's capital intensity, which weighs on TM-Energo Finance's financial strength and overall operating efficiency. Nevertheless, given the company's debt maturity profile, NRA views the expected sources of income needed to cover TM-Energo Finance's debt service requirements as adequate. Additionally, the company's affiliation with one of Russia's largest investment and production groups with considerable financial resources allows it to count on a timely and sufficient parent support in case of distress.