Moody's: Irkut view to stable

Moody's Investors Service said it changed Irkut's outlook to stable from negative.

The agency also said it affirmed its corporate family and probability of default ratings at Ba2.

The outlook revision reflects positive developments in Irkut's capital structure following debt restructuring arranged by the company's majority shareholder, JSC United Aviation Corp., which is 83% owned by the Russian Federation via its agency for administration of governmental property.

Irkut demonstrated an improvement in its operating performance in 2010 to 2011, which was reflected by the company's robust revenue growth, sustainably improved profitability and stronger coverage metrics, Moody's said.

Irkut's revenue generation in 2012 to 2014 is supported by the company's order book of signed projects, the agency said.

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