OREANDA-NEWS. National Rating Agency has affirmed its ‘AA’ credit rating on MRSK Center PJSC (Interregional Grid Company of Central Russia; MRSKC). The outlook for the rating is Stable. NRA’s first-time credit rating of ‘AA’ was assigned to MRSKC on Apr. 19, 2013 and reaffirmed on Dec. 12, 2013 and Dec. 12, 2014.

The current rating reflects the company’s strong operational and financial performance, dominance in its home market and the fact that the majority stake in MRSKC is owned by the state. Other rating strengths include the company’s strong equity, high equity and financial strength ratios, as well as its current and instant liquidity ratios, which are consistently and above the market average. All these factors, combined with MRSKC’s moderate debt level, allow NRA to assess the company’s creditworthiness and financial strength very positively.

The rating is constrained by the company’s weakened financial result for 2013 and a negative bottom-line for 2014, resulting from the considerable impairment of its fixed assets. That said, NAR notes the company’s positive financial result for 1H 2015, which is more consistent with its historical performance.

NRA’s analytical products, including ratings and the contents of this press release, are statements of NRA’s independent opinion as of the date they are expressed and not statements of fact or recommendations to make any investment decisions or conduct any stock market transactions. NRA is not responsible for any results obtained from the use of opinions and/or information contained in this press release.

While NRA has obtained information from sources it believes to be reliable, NRA does not guarantee that this information is perfectly correct, complete and accurate, as it does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives.