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22 December 2016 y.

Transmashholding was assigned the Fitch credit rating of BB- with a “stable” forecast


The Fitch Ratings has assigned JSC Transmashholding, the largest transport engineering company in Russia, the foreign- and local-currency international credit rating of 'BB-' with a “stable” outlook. 

The international rating agency pointed out that “TMH has a strong position in the Russian locomotive, rail and metro car market. The company has good long-term relationships with key customers such as Russian Railways (RZD; BBB-/Stable) and Moscow Metro. Its relationship with 33.3% shareholder Alstom is a credit positive as it provides the company with strategy, engineering and marketing support”.

 The Fitch decision was highly appreciated in TMH. “Assignment of the international rating will enable the Company to expand its fund-rising possibilities required to develop the Holding as a high-end manufacturer of the rolling stock”, as Oleg Domskiy, the Transmashholding Deputy CEO for economy and finance stated. “We have the opportunity to approach the bond market, to extend substantially the pool of potential investors, to borrow on long-term basis. We expect that the Holding’s debt securities will be put on the Lombard list of the Bank of Russia”. 

It is estimated in Transmashholding that the public credit rating contributes to the structural refinement of the Company balance sheet due to long-term borrowings. In the long run, it is considered as an important element in the formation of a positive public credit record of the Holding.