S&P lifts Federal Passenger view to positive

S&P said it revised the outlook on Federal Passenger Co. OJSC to positive.

The agency also said it affirmed the company’s BB+ long-term corporate credit rating.

The agency also said it assigned a B short-term corporate credit rating to the company and ruAA+ Russia national scale rating.

S&P said it revised the outlook to reflect a similar action on Russia.

The agency said it considers Federal Passenger to be a government-related entity with a high likelihood of timely and sufficient support from the Russian government in case of financial stress.

This is due to the company’s very important role for the government and its strong link with the Russian government, its ultimate owner, S&P said.

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