Fitch affirms HMS Group

Fitch Ratings said it affirmed JSC HMS Group's foreign- and local-currency issuer default rating at B+. The outlook is stable.

Fitch also affirmed JSC Hydromashservice's senior unsecured rating at B+/RR4.

“The ratings reflect HMS's lack of geographic and customer diversification, smaller scale of operations versus international peers', volatile free cash flow (FCF) generation and a low share of aftermarket services revenue,” the agency said in a news release.

“The ratings also reflect HMS's leading market position, strong customer base, comfortable 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.