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February 13, 2019

Moody’s upgraded RusHydro’s credit rating to investment grade

February 12, 2019. Moscow, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that Moody’s Investors Service Inc. (Moody’s) has raised PJSC RusHydro’s long-term issuer rating to ‘Baa3’ from ‘Ba1’. The rating agency assigned the outlook at ‘Stable’. The rating for the RusHydro’s current senior unsecured loan participation notes (LPNs) has been one-notch uplifted as well to ‘Baa3’.

The action followed an upgrade of Russia’s sovereign rating on February 8, 2019. The rating agency’s analysts quoted high level of government support combined with solid operational results, robust liquidity cushion and well-balanced leverage.

The full report is available on Moody’s website at: https://www.moodys.com/

For reference:

PJSC RusHydro has been assigned the following international long-term corporate credit ratings at the sovereign (investment) level: S&P – ‘BBB-‘ (outlook ‘Stable’), Moody’s – ‘Baa3’ (outlook ‘Stable’), Fitch – ‘BBB-‘ (outlook ‘Stable’); and national credit rating ACRA – ‘AAA(RU)’ (outlook ‘Stable’).






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