Fitch affirms Ventrelt at BB-

Fitch Ratings said it affirmed Ventrelt Holdings Ltd.'s long-term foreign-currency issuer default rating at BB- with a stable outlook.

Fitch said the affirmation reflects Ventrelt's solid financial profile over the rating horizon, supportive long-term tariffs, its stable operations as a water and wastewater operator, its long-term leasing and concession agreements with municipalities, and its comfortable debt maturity and liquidity profile.

However, Ventrelt's ratings are constrained by its limited size and diversification relative to larger peers and BB rated Russian companies, as well as the evolving regulatory framework for tariff-setting, the agency said in a news release.

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