30 June 2017 y.

Based on a new methodology Expert RA Agency has assigned rating ruАА to Transmashholding

RAEX Rating Agency (Expert RA) has assigned the credit rating of Transmashholding applying the new methodology and assigned rating ruAA (which corresponds to rating A++ according to the previously applied scale). The assigned rating outlook is stable. Previously, the company had A++ rating with a stable outlook, TMH PR Department has reported. 

Having assigned the high credit rating, Expert RA has confirmed high estimate of company performance and its market perspectives. The Agency highlights the following strengths of the company: strong market and competitive positions, as well as high-level geographical diversification of the company’s business activities, external support from the state and owners and also availability of a large and reliable products consumer (represented by OAO Russian Railways). Agency experts note high-level of projection liquidity at the 18-months horizon specific for the Holding and considerable decrease of the debt load during the first half of 2017.  

In addition to the rating of Expert RA, in 2016 based on the international scale the credit rating BB- with a stable outlook was assigned to Transmashholding by Fitch Rating Agency.  

High credit scoring given to Transmashholding by the rating agencies enabled the company to successfully place 3-year listed bonds amounting to RUB 10 bln. at the Moscow Exchange in February 2017. The coupon rate was fixed at 9.95% per annum (considerably lower than market bank interest rates and lower than the key rate effective thereat), in the course of placement demand for the bonds overtook supply 4 times.