Moody's affirms Irkut at Ba2

Moody's Investors Service said it affirmed the corporate family rating of Irkut Corp. at Ba2.

Concurrently, Moody's Interfax affirmed the national scale rating of Irkut at Aa2.ru. The outlook is stable.

According to Moody's and Moody's Interfax, the Ba2 global scale rating reflects the company's global default and loss expectation, while the Aa2.ru NSR reflects the standing of the company's credit quality relative to its domestic peers.

Moody's noted that there is a possible negative evolution on the Baseline Credit Assessment as Irkut's revenues in 2008 and 2009 have far exceeded order inflow so that the current order book is eroding and the company's future revenue is increasingly dependent on new orders being signed.

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