S&P shifts TransFin-M view to negative

S&P said it changed the outlook for TransFin-M to negative from positive after ownership of the company changed.

“On Nov. 8, 2019, pension fund Blagosostoyanie finalized its sale of TransFin-M to TFM-Garant AO, acting in the name of Alexei Taicher and his partners. The transaction and the resulting change in the ownership can have implications for TransFin-M’s funding and liquidity profiles, among other factors. Our previous assessments of the entity’s funding and liquidity hinged largely on material ongoing funding support from Blagosostoyanie,” said S&P in a press release.

S&P affirmed the company’s B rating.

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