Moody's raised Rosseti's ratingSource: RNS
Moody's Investor Service raised Rosseti's rating to 'Baa3' with stable outlook
13 February 2019. Moscow, Russia. PJSC ROSSETI (LSE: RSTI) (the "Company"), the largest electricity transmission and distribution grid company in Russia, announces that on 12 February 2019 Moody's Investor Service has assigned Baa3 (stable outlook) long-term issuer ratings to PJSC ROSSETI. The rating action followed an upgrade of Russia's sovereign credit ratings to Baa3 (stable outlook) on 8 February 2019.
PJSC ROSSETI's ratings from two international rating agencies, Moody's Investors Service and S&P Global Ratings, and Russia-based Analytical Credit Rating Agency (ACRA) are investment grade.
Pavel Livinsky, CEO of the Company commented Moody's decision: "We appreciate Moody's decision on PJSC ROSSETI credit rating. It proves the Company's strategic importance and its position as one of the key Russian infrastructure companies. I am sure that two investment-grade ratings by international rating agencies will contribute to increased attractiveness of the securities, issued by the Company, for investors, including the foreign ones".
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For further information:
Maria Stepanova, Head of IR +7(495) 995 5333 (ext. 3961)
Yulia Martynova, IR +7(495) 995 5333 (ext. 3834)
Maria Novokreschenova +7 (495) 225 0335
Yaroslav Gryaznov +7 (495) 225 0335 (ext. 1010)
Public Joint Stock Company ROSSETI (PJSC ROSSETI) is one of the largest electric grid companies in the world. The Company manages 2.34 million kilometers of power lines and 502,000 substations with more than 781 GVA of transformer capacity. The number of the ROSSETI Group's employees is 215,000.
ROSSETI comprises 35 subsidiaries and dependent companies, including 14 interregional grid companies and one transmission grid company. The controlling shareholder with an 88.04% stake in the Company is the government represented by the Federal Agency for State Property Management of the Russian Federation.
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of PJSC ROSSETI. You can identify forward-looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might", the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industry, as well as many other risks specifically related to PJSC ROSSETI and its operations.
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