Fitch affirms TransContainer

Fitch Ratings said it affirmed OJSC TransContainer's long-term foreign- and local-currency issuer default ratings at BB+, senior unsecured at BB+, and short-term foreign- and local-currency issuer default ratings.

The outlooksfor the long-term issuer default ratings is stable.

TransContainer's ratings reflect its position as the leading rail-based container transportation company in Russia with an overall market share of about 53%, the agency said.

TransContainer benefits from a large network of container terminals in key strategic locations in Russia and one in Slovakia, the agency added.

TransContainer's ratings also reflect the strategic and operational ties between the company and its parent, JSC Russian Railways (BBB/stable/F3), Fitch said.

TransContainer is expected to maintain its leverage at moderate levels and with net adjusted debt-to-EBITDA ratio gradually improving to just above 1x in 2014 from 2.3x in 2010.

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