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S&P Credit Research1646 word report
published Sep 14, 2009
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S&P Credit Research
| Abstract: | Russian utility Mosenergo (AO) faces significant refinancing needs in the remainder 2009 and we expect it to generate negative free operating cash flow in 2010. We understand the company intends to replace its short-term debt with long-term borrowings and improve its liquidity and maturity profile, though these plans have yet to be fully implemented. The 'BB-' long-term corporate credit rating and 'ruAA-' Russia national scale rating remain on CreditWatch with negative implications. On Sept. 14, 2009, Standard&Poor's Ratings Services said it was keeping its 'BB-' long-term corporate credit ratings and 'ruAA-' Russia national scale ratings on Russian electricity and heat generator Mosenergo (AO) on CreditWatch, where they were placed with negative implications on March 24, 2009. The ratings
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| Brief Excerpt: | RESEARCH Ratings Definitions Research Update: Russian Utility Mosenergo (AO) Kept On Watch Negative On Refinancing Uncertainties Publication date: 14-Sep-2009 Primary Credit Analyst: Sergei Gorin, Moscow 7 495 783 4132; sergei_gorin@standardandpoors.com...
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| Report Type: | Research Update
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| Ticker: | MSNG@RU
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| Issuer: | Mosenergo (AO)
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| GICS: | Electric Utilities (55101010)
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| Sector: | Global Issuers
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| Country: | Russia
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| Region: | Europe, Middle East, Africa
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
Also from S&P Credit Research
- Russian Utility Mosenergo (AO) Kept On Watch Negative On Refinancing Uncertainties $100.00
Russian utility Mosenergo (AO) faces significant refinancing needs in the remainder 2009 and we expect it to generate negative free operating cash flow in 2010. We understand the company intends to replace its short-term debt with long-term ...
- Mosenergo (AO) $400.00
Strong competitive position in the relatively lucrative Moscow region Operational benefits and support from the major shareholder, OAO Gazprom Significant share of regulated and noncompetitively exposed heat sales Weak liquidity position Growing ...
- Summary: Mosenergo (AO) $175.00
The rating on Russian electricity and heat generator Mosenergo (AO) is constrained by its weak liquidity position and significant refinancing needs; growing operating costs; substantial capital-expenditure program; and its concentrated customer ...
- Russian Utility Mosenergo (AO) Cut To 'BB-/ruAA-' On Weaker Performance, Large Refinancing Needs; On Watch Negative $100.00
MOSCOW (Standard&Poor's) March 24, 2009--Standard&Poor's Ratings Services said today that it had lowered its long-term corporate credit and Russia national scale ratings on electricity and heat generator Mosenergo (AO) to 'BB-/ruAA-' from 'BB/ruAA'. ...
- Research Update: Russian Utility Mosenergo (AO) Cut To 'BB-/ruAA-' On Weaker Performance, Large Refinancing Needs; On Watch Negative $175.00
On March 24, 2009, Standard&Poor's Ratings Services lowered its long-term corporate credit and Russia national scale ratings on electricity and heat generator Mosenergo (AO) to 'BB-/ruAA-' from 'BB/ruAA'. We also lowered the senior unsecured ...
- Russian Utility Mosenergo (AO) 'BB' And 'ruAA' Ratings Affirmed; Outlook Stable $100.00
FRANKFURT (Standard&Poor's) Aug. 20, 2008--Standard&Poor's Ratings Services said today it affirmed its 'BB' long-term corporate credit rating and 'ruAA' Russian national scale rating on electricity and heat generator Mosenergo (AO). The outlook ...
- Research Update: Russian Utility Mosenergo (AO) 'BB' And 'ruAA' Ratings Affirmed; Outlook Stable $175.00
On Aug. 20, 2008, Standard&Poor's Ratings Services affirmed its 'BB' long-term corporate credit rating and 'ruAA' Russian national scale rating on electricity and heat generator Mosenergo (AO). The outlook is stable. The ratings on Mosenergo ...
- Summary: Mosenergo (AO) $175.00
The ratings on Russian electricity and heat generator Mosenergo (AO) reflect the company's growing exposure to the volatile spot electricity market; its ambitious investment program, which will create significant external funding requirements; ...
