Russian Energy Utility Mosenergo (AO) Lifted To 'BB/ruAA'; Off Watch; Outlook Stable - 2007/07/31 - S&P Credit Research

Report title: Russian Energy Utility Mosenergo (AO) Lifted To 'BB/ruAA'; Off Watch; Outlook Stable

from S&P Credit Research
751 word report published Jul 31, 2007

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Abstract:

MOSCOW (Standard&Poor's) July 31, 2007--Standard&Poor's Ratings Services said today that it raised its long-term corporate credit and Russian national scale ratings on electricity and heat generator Mosenergo (AO) to 'BB/ruAA' from 'B/ruA-'. Both ratings were removed from CreditWatch, where they were placed with positive implications on Dec. 22, 2006, following Mosenergo shareholders' approval of a share issue to Russian gas utility OAO Gazprom (BBB/Stable/--). The outlook is stable. "The upgrade reflects improvement in Mosenergo's regulatory environment; stronger financial performance; and completion of the Russian ruble 60.7 billion equity increase, which improved the company's capital structure and liquidity position," said Standard&Poor's credit analyst Eugene Korovin. "The higher level of potential support from and operational benefits

Brief Excerpt:

RESEARCH Ratings Definitions Russian Energy Utility Mosenergo (AO) Lifted To '##/ruAA'; Off Watch; Outlook Stable Publication date: 31-Jul-2007 MOSCOW (Standard & Poor's) July 31, 2007--Standard & Poor's Ratings Services said today that...

Report Type:

News

Ticker:

MSNG@RU

Issuer:

Mosenergo (AO)

GICS:

Electric Utilities (55101010)

Sector:

Corporations, Electric, Energy, Gas, Global Issuers, Metals & Mining, Utilities

Country:

Russia

Region:

Europe, Middle East, Africa

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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.

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