The international rating agency Moody’s Ratings has upgraded the credit rating of Southern Gas Corridor CJSC (SGC), APA-Economics reports.
Moody’s has raised the company’s foreign currency-backed senior unsecured debt rating from Ba1 to Baa3. In other words, the rating agency has assigned an investment-grade rating to SGC. The agency maintained its positive outlook, indicating the possibility of further rating upgrades in the future.
It was noted that the upgrade reflects the company’s strengthened financial resilience and government support, as well as the strategic importance of the project for regional energy security.
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