TGC-1 was rated ‘BB+’ by S&P Global Ratings

27.09.2016

On September 26, 2016 an international agency Standard & Poor’s Global Ratings assigned TGC-1 long-term and short-term ratings ‘ВВ+/В’ according to the international scale with ‘stable’ outlook. Additionally, TGC-1 was rated ‘ruAA+’ according to the national scale.

TGC-1 is a leading producer and supplier of electricity and heat in the Northwest of Russia and has a strong competitive position in the service region. According to the experts, the Company's generating assets structure is balanced. Furthermore, S&P positively assesses the effect of performed investment programmes within the Capacity Delivery Agreements (CDA) for Pravoberezhnaya, Pervomayskaya, Yuzhnaya CHPPs in St. Petersburg.  New capacities that were put into effect promoted strengthening of the Company's competitive positions and improving its operations efficiency.

Additionally, S&P Global Ratings experts note that TGC-1 is a strategic investment for the Gazprom Group on a level with the investments to other electricity and heat generating companies. 

‘Stable’ outlook on TGC-1 ratings mainly reflects the ratings outlook of the parent company – PJSC Gazprom.

As of characteristics of TGC-1 standalone credit capacity the Company will continue to have advantages due to the strong competitive position in the service region, balanced structure of generating assets, moderate debt burden and adequate liquidity ratios.