Strong support expected for Russian Corporation of Nanotechnologies (RUSNANO)
1 May 2010Standard and Poor (S&P), a famous international rating organization expects continuous growth of the RUSNANO as it will get regular support and investment from the state. The recent outlook from S&P is changed significantly from negative to stable BB+ for long term, B for short term and AA+ national ratings.
RUSNANO was established by the Russian government, which has a rating of BBB/Stable/A-3 for foreign currency and BBB+/stable/A-2 for local currency and the S&P outlook reflects a continuous support in the form of capital till the year 2012 and S&P analysts expects Russian government will guarantee support till 2015. Although RUSNANO legal status has recently changed from a state corporation to a joint-stock company, still then S&P has changed its rating from negative to stable.
If we see the financial health of RUSNANO, it has got regular support from state and will continue to get equity from time to time till 2012. The company’s capital will reach 130 billion ruble by the end of the year 2012, which is about 0.3% Russia’s GDP. Keeping in view of the strong financial health of the company, a better rating from S&P was expected.
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