International rating agency Moody’s Investors Service has increased Romanian electricity transporter Transelectrica’s credit rating from Ba2 to Ba1 with a stable perspective.

The company’s rating is thus just one level below Romania’s Baa3 rating, which is in the investment grade category.

Transelectrica announced its shareholders that the rating increase from Moody’s would help it get financing at optimal costs, in the following period, to finance its investment programs.

The higher profits and stable revenues have weighed in Moody’s decision to increase the company’s rating. Transelectrica had a net profit of EUR 82 million, in 2015, 2.5% higher than in 2014. Its revenues amounted to EUR 670 million, up by almost 6% compared to 2014.

The company, in which the state still holds a 59% majority stake, is listed on the Bucharest Stock Exchange and has a market capitalization of EUR 482 million.

editor@romania-insider.com