"We are pleased with AO MOSENERGO rating's upgrade to B-," said Vladislav Nazin, deputy general director for economy of AO MOSENERGO, at the news from the rating agency Standard & Poors. Today, Standard & Poors released data on the increase in sovereign debt ratings. As a result, the long-term credit rating of AO MOSENERGO was increased from CCC+ to B-. Standard & Poors also gave a higher rating to the unsecured debt of Mosenergo Finance B.V. that was guaranteed by AO MOSENERGO.

The leadership of AO MOSENERGO was positive on this news. "The rating upgrade reflects the evaluation of last year's activities. For Standard & Poors, it took time to realize that the better financial condition of the company was not a temporary trend. The improvement of the most critical financial indicators and positive changes attest to this fact," Nazin said.

The rating upgrade is a landmark for AO MOSENERGO. Nazin stressed that "we will not stop at this achievement. We still have many problems to solve. AO MOSENERGO's leadership realizes the need to increase the effectiveness of the company's operations."