S&P: Freight One on watch

Standard & Poor's said it placed its BBB- long-term and A-3 short-term corporate credit ratings on JSC Freight One on CreditWatch with negative implications.

At the same time, the agency said it placed its ruAA+ Russia national scale rating on CreditWatch with negative implications.

S&P said the CreditWatch placement reflects the possibility that the agency could consolidate the outstanding debt of Freight One's majority shareholder, Independent Transportation Company. This could weaken Freight One's credit metrics significantly and could lead to a downgrade of Freight One by up to two notches.

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