Fitch rates Inter RAO BB+

Fitch Ratings said it assigned a BB+ rating to JSC Inter RAO UES's long-term foreign- and local-currency issuer default ratings, along with a national long-term rating of AA(rus).

Fitch also said it assigned short-term foreign- and local-currency issuer default ratings of B.

The outlook is stable.

The ratings are driven by support from and linkage with its indirect majority shareholder, the Russian Federation, Fitch said.

The agency said it assessed Inter RAO's credit strength at two notches below that of the state due to the strategic importance of the company to the national economy and its position in cross-border power trading.

Additionally, the company benefits from a near-monopoly position in cross-border power trading between Russia and several neighboring countries, Fitch said.

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