OREANDA-NEWS. Standard & Poor's Ratings Services said today that it assigned its 'ruA+' Russia national scale rating to the proposed Russian ruble (RUR) 5 billion ($191 million) series 5 senior unsecured noncallable bonds, due 2009, to be issued by Russia's national electricity transmission grid operator Federal Grid Co. of the Unified Energy System (FGC; B+/Watch Pos/--; Russia national scale ruA+/Watch Pos).

At the same time, the rating--which is the same as the Russia national scale rating on the company--was placed on CreditWatch with positive implications, in line with the other ratings on FGC. The coupon payment rate will be determined at the placement auction on December 5, 2006.