The FSK, or Federal Grid Co. of the United Russian Power Grid holding, has its credit rating kept down by mother company ratings, what with financial activities tied up to the United Grid.
The FSK got going only recently, and so did its regulating bodies. The company is badly in need of assets, which partly come from loans. Last but not least, Russia is a country of economic hazards, entangled in red tape and with legislative changes baffling forecast. All that tells on FSK rating.
On the other hand, the FSK is an electric transmission monopoly for mainlines, and so is getting steady profits. It has only token debts, though the Standard & Poor's does not rule out more loans coming up.
The FSK may eventually improve its credit standing as the mother holding does so, says the release quoting Magnus Peterson, the Standard & Poor's credit analyst.
