Fitch reviews TransContainer

Fitch Ratings said it affirmed JSC TransContainer's short-term issuer default rating and local-currency short-term issuer default rating at B and kept the company's remaining ratings on Rating Watch negative, including its BB+ long-term issuer default rating, BB+ local-currency long-term issuer default rating, AA(rus) national long-term rating and BB+ senior rating.

TransContainer's BB+ long-term issuer default rating currently includes a one-notch uplift for parental support from JSC Russian Railways (BBB/Stable/F3), its majority shareholder. The agency said the maintained Rating Watch negative reflects Russian Railways' decision to further reduce its stake in TransContainer and the continued uncertainty regarding the percentage of shares to be disposed, the timing of the disposal and the identity of the future majority shareholder.

TransContainer's standalone rating continues to reflect its market position as the leading rail container operator in Russia, geographical reach and relatively diversified customer base, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.