Fitch affirms Ventrelt

Fitch Ratings said it affirmed Ventrelt Holdings Ltd.'s long-term foreign-currency issuer default rating at BB-, along with the senior unsecured rating at BB- on RVK-Finance LLC's ruble-denominated bonds.

The outlook is stable.

The ratings reflect the existing regulatory framework in the Russian Federation, the group's strong market position, moderate leverage and existing funding structure, Fitch said.

The aging infrastructure in the Russian Federation needs upgrading and some municipalities are increasingly relying on private companies and their operating expertise, the agency said.

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