12:49 22.01.2018

Moody's assigns Aa2 rating to notes issued for financing central spent nuclear fuel storage facility

1 min read
Moody's assigns Aa2 rating to notes issued for financing central spent nuclear fuel storage facility

Moody's Investors Service has assigned a definitive Aa2 rating on the approximately $250 million of senior secured notes to be issued for financing of a loan issued to National Nuclear Generating Company Energoatom for construction of the central spent nuclear fuel storage facility, the press service of Moody's has reported.

The outlook on the rating is stable.

"The Energoatom transaction is one of a number we have seen incorporating credit enhancement from development finance institutions and multilateral development banks, as they seek to crowd-in risk averse private sector capital to support infrastructure investments in more challenging sovereign environments in emerging markets," Moody's Vice President and Senior Analyst Christopher Bredholt said.

As reported, U.S.-based Overseas Private Investment Corporation (OPIC) will provide guarantees for $250 million raised by Energoatom via Central Storage Safety Project Trust to build the central spent nuclear fuel storage facility.

Energoatom and Holtec (the United States) started building the facility in November 2017.

The facility would allow cutting dependence on Russia.

Energoatom is the operator of all four Ukrainian-based operating nuclear power plants, which have 15 VVER reactors with an overall generating capacity of 13.835 gigawatts.

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