Moody’s raises Rosseti, subsidiaries

Moody's Investors Service said it upgraded the corporate family ratings and probability of default ratings of Rosseti, PJSC and its subsidiaries, Moesk, PJSC, Lenenergo, PJSC, IDGC of Center and Volga Region, PJSC, IDGC of Urals, JSC and IDGC of Volga, PJSC, to Ba1 from Ba2 and to Ba1-PD from Ba2-PD, respectively.

Concurrently, the agency affirmed the Ba1 corporate family rating and Ba1-PD probability of default rating of FGC UES, JSC.

The outlook on all ratings is stable.

"Our decision to upgrade Rosetti reflects its strong financial profile, ample liquidity, it's dominant market position and the regulatory environment which allows for operating costs and investments to be recovered albeit with delays," Moody’s vice president, senior analyst Julia Pribytkova said in a news release.

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