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Moody's rates Russian Railways loan Baa1
Moody's Investors Service said it assigned a definitive Baa1 rating to the £350 million 7.487% loan participation notes due 2031 issued by RZD Capital Ltd. for the sole purpose of financing a loan to JSC Russian Railways.
The outlook is stable.
The rating assigned to the notes is equivalent to the senior unsecured issuer rating of Russian Railways, Moody's said, reflecting that the noteholders rely solely on the Russian Railways' creditworthiness to service and repay the debt.
The obligations are assumed to rank pari passu with all its other unsecured and unsubordinated financial indebtedness, the agency said.
Moody's said it regards Russian Railways as a government-related issuer.
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