Moody’s upgraded RusHydro’s credit rating to investment grade
February 12, 2019. Moscow, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that Moody’s Investors Service Inc. (Moody’s) has raised PJSC RusHydro’s long-term issuer rating to ‘Baa3’ from ‘Ba1’. The rating agency assigned the outlook at ‘Stable’. The rating for the RusHydro’s current senior unsecured loan participation notes (LPNs) has been one-notch uplifted as well to ‘Baa3’.
The action followed an upgrade of Russia’s sovereign rating on February 8, 2019. The rating agency’s analysts quoted high level of government support combined with solid operational results, robust liquidity cushion and well-balanced leverage.
The full report is available on Moody’s website at: https://www.moodys.com/
PJSC RusHydro has been assigned the following international long-term corporate credit ratings at the sovereign (investment) level: S&P – ‘BBB-‘ (outlook ‘Stable’), Moody’s – ‘Baa3’ (outlook ‘Stable’), Fitch – ‘BBB-‘ (outlook ‘Stable’); and national credit rating ACRA – ‘AAA(RU)’ (outlook ‘Stable’).
The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. You can identify forward looking statements by terms such as 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 from these statements. 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 industries, as well as many other risks specifically related to RusHydro and its operations.
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