August 27 (SeeNews) - Romanian electricity transmission system operator Transelectrica [BSE:TEL] said on Friday that ratings agency Moody's affirmed its 'Ba1' corporate family rating (CFR), with a positive outlook.
The company managed to keep its rating due to its monopoly in electricity transmission in Romania, the regulatory framework that has improved over the past few years, as well as the sound financial profile characterised by a low indebtedness level, Transelectrica said in a statement filed with the Bucharest Stock Exchange, BVB.
Moody's last affirmed Transelectrica's CFR at Ba1 with a positive outlook in May 2020.
Transelectrica's net profit rose by an annual 18% to 114 million lei ($27 million/ 23 million euro) in 2020.
Blue-chip Transelectrica shares traded 0.82% higher at 24.6 lei as at 1425 CET on Friday on the BVB.
(1 euro=4.9334 lei)
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