Moody's Investors Service (Moody's) on Friday assigned a Baa2 long-term issuer rating to Botswana Power Corporation (BPC). The outlook is stable. This is the first time Moody's has assigned a rating to BPC. BPC is the national energy company in Botswana, responsible for energy production, transmission, distribution and supply. It is 100% owned by the Government of Botswana (A2 stable). Reflecting its strategic importance within the country, BPC is subject to significant government influence and further acts to implement a range of policy mandates associated with national development objectives. Through the Ministry of Mineral Resources, Green Technology and Energy Security, the government exercises strong oversight over the company's strategy and operations whilst also having the final say on the level of end user tariffs. In this context, BPC pursues investment projects that may not be commercial (for example, electrification of rural areas in the country) but are intended to meet policy objectives. Continuing investment against a backdrop of tariffs that are not cost-reflective is, however, underpinned by ongoing financial support from the government. RATINGS RATIONALE BPC's Baa2 issuer rating is underpinned by (1) the expectation that the Government of Botswana will continue to provide timely financial support to the company,…