Fitch changes Inter RAO view

Fitch Ratings said it revised the outlook on PJSC Inter RAO's long-term foreign-currency issuer default rating to positive from stable and affirmed the rating at BBB-.

The agency said the revision of the outlook reflects the positive sovereign outlook of the Russian Federation (BBB-/positive) and the application of Fitch's government-related entities rating criteria.

“Inter RAO's rating is supported by its standalone credit profile (SCP) of BBB-, which we revised up from BB+, reflecting the company's strong business and the strongest financial profile among Fitch-rated utilities in Russia and CIS, and emerging track record of consistent implementation of regulation in electricity generation that supports the predictability of cash flows,” Fitch said in a news release.

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