Moody's: IDGC of Center and Volga CFR Ba2

Moody's Investors Service said it assigned Ba2 corporate family and probability of default ratings to JSC IDGC of Center and Volga Region, a Russian electricity distribution grid business servicing nine regions in the European part of Russia and a core operating company of state-controlled IDGC Holding

Moody's Interfax also assigned an Aa2.ru national scale rating to the company.

The outlook is stable.

Moody's said the corporate family rating mainly reflects mainly reflects IDGC of Center and Volga's higher business risk compared with the generally low risk of regulated grid peers operating in developed markets and the company's relatively leveraged financial profile and liquidity which remain under pressure from a large investment program driven by its depleted asset base, among other factors.

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