Standard & Poor's changed the credit rating of IDGC of Centre

9 February 2015

February 4, 2015, the international rating agency Standard & Poor's changed the credit rating of IDGC of Centre on the international scale from the level "BB" to "BB-", outlook "Stable". Credit rating on the national scale was changed from "ruAA" to "ruAA-".

The rating change is due to the fact that January 26, 2015 Ratings Services of Standard & Poor's downgraded the sovereign credit ratings of the Russian Federation on liabilities in foreign currency to "BB+/B"; outlook on the ratings - "Negative". As a result, ratings of Russian companies that export commodities, telecommunications companies, as well as infrastructure companies and utilities were revised. According to Standard & Poor's, the company will maintain its "adequate" liquidity and controlled debt repayment schedule. The outlook also reflects the expectation that the company will remain largely under state control in the medium term, and its strategic importance to the authorities of the regions, in which it operates, will not decrease.

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