OREANDA-NEWS. November 15, 2007. JSC “IDGC of the Center” was awarded the “A” level Creditability Certificate, which stands for high creditability, second level.

Victor Chetverikov, General Director of “National Rating Agency” Ltd awarded Certificate to Anatoly Merzlyakov, Deputy General Director of JSC “IDGC of the Center”.

“A level creditability certificate proves that the company is able to comply with debt and credit commitments without losing its financial solvency and stability”, - said Victor Chetverikov, the General Director of “National Rating Agency” Ltd.

The company boasts a low risk of financial solvency loss. The JSC “IDGC of the Center” financial indexes are at a sound level. JSC “IDGC of the Center” business is profitable and is characterized by a high commercial viability level. According to the results of the company’s activities for 9 months of 2007 JSC “IDGC of the Center”’s net profit amounted to 1140 mln rubles against the planned by 180,3 mln rubles. ROE (return on equity) index achieved 2,9%  against the planned by 0,41% ( in absolute terms). The company’s own capital amounts to 38193,4 mln rubles.  In comparison with the same period of the previous year it has increased by 8287,5 mln rubles.

The company achieved a high creditability level due to constant management system development, including corporate and increasing company transparency level.

11 distribution grid companies of JSC “IDGC of the Center” service area are also operating successfully. At the moment, 3 grid companies (JSC “Belgorodenergo”, JSC “Kurskenergo” and JSC “Lipteskenergo”) received “A-“ level creditability certificates (high creditability, third level), 8 companies received “BBB+” rating (sufficient creditability, first level).
“We will strive for our affiliated companies to receive “A-“ level creditability certificates, said Evgeny Bronnikov, Deputy General Director for Economics and Finance of JSC “IDGC of the Center”. – The role of credit ratings in modern economics is very high. At the present stage of market development, credit ratings show how the companies are transparent. The investors, apart from company ability to produce products or render services, focus on the company’s general level of crediting culture. And in the future, the companies with the longest rating history will prevail.”

Anatoly Merzlyakov, the First Deputy General Director of JSC “IDGC of the Center” said, that the company has set the following target for 2008: to increase revenues, market share, capitalization and company value, commercial viability in order to confirm creditability certificate at the moment, and receive a higher level certificate in the future.

Achieving the targets will have a positive effect on the crediting level of the Unified Operational System.