3 Oct 2017 12:53
ACRA assigned top credit rating to RusHydro
October 3, 2017. Moscow, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that it has been informed by the Analytical Credit Rating Agency ACRA that the Agency has assigned to the Company top credit rating on the national scale: AAA(Ru), outlook stable. The Agency also assigned credit rating of AAA(Ru) to the new RUB 20 bn Eurobond issue of RusHydro.
RusHydro is one of the first Russian state-owned companies and the first utility company to receive the credit rating from ACRA.
Analysts of the Agency have evaluated RusHydro as the key player in the Russian power generation market with sustainable business profile, well-developed corporate governance system and a conservative financial policy, allowing the company to support high profitability while maintaining moderate leverage. The Agency also emphasized high level of government support to the company due to critical systemic importance of the Company for the Russian economy.
Nikolay Shulginov, Chairman of the Management Board - General Director of RusHydro: "Two years of efficient work enabled us to transform the Company, attain significant growth of EBITDA and reduce leverage, as well as improve operational and investment efficiency of RusHydro Group. The rating, assigned by ACRA, reflects the results we have achieved and acknowledges high level of Company's creditworthiness".
About RusHydro
RusHydro Group is one of Russia's largest generating companies. RusHydro is the leading producer of renewable energy in Russia with over 70 generating facilities in Russia and abroad. The company also manages a number of R&D, engineering and electricity retail companies. Group's thermal assets are operated by subsidiary - RAO Energy System of East in the Far East of Russia. Total electricity generation capacity of the Group is 38.9 GW, heat capacity - 16.2 thousand GCal/h. Russian Federation owns 60.6% in RusHydro, the rest is held by other institutional and individual shareholders (over 360,000). The company's stock is traded on Moscow Exchange (MOEX), and included in MSCI EM и MSCI Russia indexes. Company's GDRs in the IOB section of LSE, ADRs - in OTCQX.
Full text of the ACRA’s report is available on: https://www.acra-ratings.ru
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.