Standard & Poor's Ratings Services affirmed the 'BB+/B' and 'ruAA+' credit ratings on RusHydro and revised its outlook to ‘Stable’
JSC RusHydro (ticker symbol: MICEX-RTS, LSE: HYDR; OTCQX: RSHYY) announces that Standard & Poor's Ratings Services has revised its outlook on RusHydro from ‘negative’ to ‘stable’ and affirmed the 'BB+' long-term and 'B' short-term corporate credit ratings and the 'ruAA+' Russia national scale rating, as well as the ratings on related bonds issues.
Standard & Poor's assessed the Company’s liquidity as adequate with large cash balance, manageable debt maturity, and proven access to the capital markets. Standard & Poor's also believes that the recent allocation of federal funds in the amount of RUR 50 bn to RusHydro will strengthen its financial risk profile and reduce the upcoming funding needs.
The full report is available on Standard & Poor's web-site at: www.standardandpoors.com.
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 "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 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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