Fitch affirms HMS Group

Fitch Ratings said it affirmed JSC HMS Group's foreign and local currency issuer default rating at B+ and foreign and local currency short-term issuer default ratings at B.

The outlook is stable.

The agency also affirmed JSC Hydromashservice's senior unsecured rating at B+ with recovery rating RR4.

“The ratings are constrained by a lack of geographical and customer diversification, smaller scale of operations versus international peers, volatile free cash flow (FCF) generation and a low share of aftermarket services revenue,” Fitch said in a news release.

“Positively the ratings reflect HMS's leading market position, strong customer base, healthy liquidity and stable fundamentals of the oil industry.”

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.