Moody's: IDGC view developing

Moody's Investors Service said it affirmed the Ba1 corporate family and probability-of-default ratings of JSC IDGC Holding.

The agency also changed the outlook to developing from stable following the announcement of a plan to transfer the powers of the sole executive body of IDGC Holding to JSC Federal Grid Co. of Unified Energy System (Baa2/stable).

The ratings reflect a moderately risky business profile given its position as a regulated monopoly operating in the emerging regulatory and market environment in the domestic power sector and a relatively conservative but evolving financial profile, the agency said.

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