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S&P Credit Research692 word report
published Aug 20, 2008
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Abstract: 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 is stable. "The ratings on Mosenergo are constrained by its ambitious capital expenditure program that creates significant external funding requirements, by its concentrated customer base, and growing exposure to the volatile spot electricity market," said Standard&Poor's credit analyst Sergei Gorin. Nevertheless, the ratings are supported by Mosenergo's strong market position in the wealthy and steadily growing Moscow region; operational benefits of affiliation with, and support from, OAO Gazprom (BBB/Stable/--), which now holds a 53.47% share in Mosenergo and is its major fuel
Brief Excerpt: RESEARCH Ratings Definitions Russian Utility Mosenergo (AO) '##' And 'ruAA' Ratings Affirmed; Outlook Stable Publication date: 20-Aug-2008 Primary Credit Analyst: Sergei Gorin, Moscow 7 495 783 4132; sergei_gorin@standardandpoors.com...
Report Type: News
Ticker: MSNG@RUIssuer: Mosenergo (AO)GICS: Electric Utilities (55101010)Sector: Electric, Global Issuers, UtilitiesCountry: RussiaRegion: Europe, Middle East, AfricaFree Sample: Click
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- 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 ...
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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
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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 ...
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- Mosenergo (AO) $400.00
Strong competitive position in the relatively lucrative, and growing, Moscow region Low-cost thermal combined heat and power generation portfolio Local monopoly position in heating provision Operational benefits and potential support from Gazprom ...
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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-'. ...
S&P Credit ResearchS&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.
