S&P lowers Interregional Distributive Grid

Standard & Poor’s said it lowered the ratings on Interregional Distributive Grid Co. of Center JSC to BB-/B from BB/B, along with its Russia national scale rating to ruAA- from ruAA.

The outlook is stable.

The downgrade follows a similar action on Russia, S&P said.

The agency said it continues to see a moderate likelihood that the Russian government would provide timely and sufficient extraordinary support to the company in the event of financial distress.

The stable outlook reflects an opinion that the risks related to company’s sizable investment program, ability to collect receivables and cost overruns will be mitigated by the company's moderate projected leverage, adequate liquidity management and state support, S&P said.

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