The rating agency Fitch Ratings affirmed Atomenergoprom’s credit rating at sovereign BBB

18.07.2014 13:03 On July 17, 2014 the international rating agency Fitch Ratings affirmed the long-term rating BBB as per the international scale of the Russian state-owned holding Joint Stock Company Atomic Energy Power Corporation (Atomenergoprom, part of ROSATOM), which consolidates civil assets of the Russian nuclear industry.

The given rating is at the maximum possible sovereign level and corresponds to the credit rating of the Russian Federation (BBB with negative outlook) that is because of a massive support rendered by the government to Atomenergoprom and its organizations as well as because of the close strategic and operative ties with ROSATOM as the sole shareholder of Atomenergoprom, and with the state because of Atomenergoprom strategic significance for the Russian economy.

Besides, the factors, Fitch Ratings believes, that positively affect the ratings are the integrated business model of the corporation, which encompasses the entire nuclear production cycle; a sizable order portfolio; long-term contracts for delivery of uranium, fuel, conversion and enrichment services. In its press release the agency also notes that power delivery contracts have been signed in relation to new reactors Atomenergoprom is planning to build in Russia, which will ensure the company’s projected profitability.

Atomenergoprom was also granted the long-term credit rating as per the international scale at BBB- sovereign by Standard & Poor’s and the long-term rating at Baa2 by Moody’s Investors Service.

Communication Department of ROSATOM