Moody's rates Irkutskenergo B1

Moody's Investors Service said it assigned AOEiE Irkutskenergo B1 corporate family and probability-of-default ratings and an A1.ru national scale credit rating.

The outlook is positive.

According to Moody's, the B1 corporate family rating reflects the company's strong market position, rapidly growing electricity demand, the company's good diversification of generation and its conservative financial profile.

The company's rating is constrained by uncertainties associated with the restructuring process, the developing regulatory environment in the Russian power sector and high geographical customer concentration, the agency said.

The issuer's debt-to-EBITDA ratio is 0.8 times.

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