International agency Fitch Ratings has raised the international credit rating of Inter RAO Group by one level to ВBB at the global scale; the outlook is stable. Thus, based on Fitch's assessment, the Group's international credit rating is one notch higher than the previously confirmed rating and corresponds to the sovereign credit rating of the Russian Federation.
The agency notes that the financial profile of Inter RAO is the strongest among companies rated by the agency in Russia and the CIS countries. In addition, Fitch Ratings gives a positive assessment of the Group's financial independence and flexibility, as well as its steady position in the energy market, including taking into account valid power supply agreements, results of the last competitive capacity outtake, monopolistic position in the field of cross-border electricity supplies and the largest sales segment. Given the high level of indirect ownership and control by the state, as well as the fact that PJSC Inter RAO is included in the list of strategically important enterprises, Fitch Ratings estimates the probability of state support if necessary to be high.
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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 31 GW of installed power generation capacity.