S&P lifts Atomic Energy

Standard & Poor's said it raised the short-term issuer credit rating on Atomic Energy Power Corp. JSC to A-2 from A-3.

The agency also affirmed the company's BBB long-term and ruAAA Russia national scale ratings.

The outlook is stable

The upgrade was based on a change in the agency's criteria for linking short-term ratings to long-term ratings for corporate and sovereign issuers, S&P said.

The ratings reflect an expectation of a very high likelihood of timely and sufficient extraordinary support from the Russian government in the event of financial distress, the agency said.

The company benefits from a vertically integrated business model and a secure monopoly over the civil nuclear segment in the Russian Federation, S&P added.

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