Fitch affirms Uranium One

Fitch Ratings said it affirmed Uranium One Inc.’s long-term foreign currency issuer default rating at BB-. The outlook is stable.

Uranium One's IDR includes a three-notch uplift from Fitch's stand-alone assessment of B- for support from its wholly state-owned parent, JSC Atomic Energy Power Corp. (Atomenergoprom, BBB-/negative), and, ultimately, the Russian Federation (BBB-/negative).

Uranium One’s stand-alone creditworthiness is constrained by its small size, its dependence on dividends from its joint ventures operating in Kazakhstan, and exposure to a single commodity and, largely, spot uranium prices, Fitch noted.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.