Fitch puts DeloPorts on watch

Fitch Ratings said it placed DeloPorts LLC’s long-term issuer default rating of BB- on Rating Watch negative, along with the company’s RUB 3 billion unsecured bond rating.

The negative watch reflects uncertainty about the company’s corporate structure due to a possible sale of a 49% stake in one of the company’s key subsidiaries, Fitch explained.

In resolving the negative watch, Fitch said it will assess the extent to which the sale transaction will impact legal, operational and strategic ties between DeloPorts and its subsidiaries.

The watch also will assess the ability of the holding company to service its bond in the context of the presence a strong minority shareholder, the agency said.

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