S&P rates IG Seismic B

Standard & Poor's said it assigned a B long-term corporate credit rating to IG Seismic Services and to its Russia-domiciled core subsidiary Geotech Seismic Services.

The outlook is positive.

The agency also assigned an ruA Russian national scale rating to Geotech Seismic.

The ratings reflect the company's weak business risk profile and highly leveraged financial risk profile, S&P said.

The ratings also consider this entity as a core subsidiary of IG Seismic that is integral to its business, the agency said.

It controls key operating assets and generates about one-half of the group's EBITDA, S&P said.

The company's financial risk profile is the key constraint on the rating, owing to high volatility and seasonality of its business, which puts pressure on liquidity requirements and financial metrics, the agency said.

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