Fitch revises State Transport Leasing view to stable

Fitch Ratings said it revised State Transport Leasing Co.'s outlook to stable from positive, while affirming the long-term foreign-currency issuer default rating at BB+.

“The outlook revision reflects the significant impact of the global Covid-19 pandemic on the Russian economy and on the propensity of the Russian sovereign to support STLC. This will see mounting pressure on government budgets as spending priorities increase on multiple fronts,” said Fitch in a press release.

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