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Unified Energy System

September 5, 2003

Standard & Poor's upgrades RAO "UES of Russia" credit rating

5 September. The international credit rating agency, Standard & Poor's, has upgraded the corporate credit rating of RAO "UES of Russia" (RTS: EESR, EESRP) from "stable" to "positive" outlook.

The Agency also affirmed the Company's credit ratings of "B" (international scale) and "ruA+" (national scale).

S&P anticipates that the energy sector's regulatory system "will become more favourable after the election", and the continuing growth of Russia's national economy "will have a positive impact on the creditworthiness of RAO UES Group".

 

 

 

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