Fitch Ratings has assigned Uzbekistan-based electricity generation company Thermal Power Plants Joint Stock Company (TPP) a first-time Long-Term Issuer Default Rating (IDR) of ‘BB-‘ with a Stable Outlook.
This allows JSC Thermal Power Plants to position itself in the global investment markets as a company with a clear and precise business strategy, a transparent financial position and a strong corporate governance system.
“The level of ‘BB-‘ with Stable Outlook, means that credit risks may exist, but the company can fulfill its financial obligations to investors and creditors”, says Azimjon Akhmadjanov, Chief Accountant of JSC Thermal Power Plants. – Work in this direction was started by Thermal Power Plants in 2021. As a result of the company’s transformation and efforts for financial recovery in January this year, the corresponding rating of the international agency Fitch Ratings was received.
It should be noted that Fitch Ratings assessed the financial and economic indicators, business strategy, stability, as well as the corporate governance system of Thermal Power Plants.
In addition, important factors in achieving this positive result were the attractiveness of the scale of investments in the company and management potential, the results of systemic reforms to control the credit burden.
