After an unscheduled review of credit ratings, Moody’s Investors Service has increased Inter RAO Group's international credit rating from Ba1/stable up to Baa3/stable on the global scale. Thus, Inter RAO Group's credit rating has been upgraded to the investment grade level.
According to the agency, the upgraded credit rating evidences high creditworthiness of Inter RAO Group supported by the Group's agile business model, diversified portfolio of its activities and high performance of its assets. The agency also emphasizes a low debt ratio and a strong position in terms current liquidity.
“Upgrade of the credit rating and into the investment grade category is a milestone event for us,” said Chairman of Inter RAO Management Board Boris KOVALCHUK. “This is a result of the positive assessment of Inter RAO Group's strategy aiming at higher operating and financial performance, development of key business segments and maintenance of leading positions in the Russian electric power market.”
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Inter RAO Group is a diversified energy holding serving various segments of Russian and international electric power industry. The Group is the leading exporter and importer of electricity in Russia actively increasing electricity generation and sales, and developing new lines of business.
The corporate strategy of Inter RAO is focused on making Inter RAO a global energy enterprise, a key player in the global energy market, and Russia's leading electric utility by energy efficiency. Inter RAO Group owns and operates approximately 33.7 GW of installed power generation capacity.