Fitch: Russian companies stable

Fitch Ratings said it revised the outlook on three Russian companies to stable from positive and affirmed their ratings.

The actions follow the revision of the Russian Federation's outlook to stable from positive and the affirmation of the long-term foreign- and local-currency issuer default ratings at BBB.

OAO Gazprom's long-term foreign- and local-currency issuer default ratings were affirmed at BBB. The company's standalone outlook is positive but constrained by the sovereign, given the company's asset concentration in Russia and majority state-ownership, according to the agency

JSC Russian Railways' long-term foreign- and local-currency issuer default ratings at BBB continue to benefit from strong links with the Russian state, the agency noted.

JSC RusHydro's long-term foreign and local-currency issuer default ratings were affirmed at BB+.

RusHydro's ratings are notched down by two levels from the sovereign's due to its state ownership, the strategic importance of the company to the state and its reliance on investment funding from the state, Fitch said.

Sukhoi Civil Aircraft JSC's ratings are driven by the strong links to its ultimate majority shareholder (75% minus one share), the Russian Federation, and the strategic nature of its flagship product, the agency said.

© 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.