Moody's assigns Russian Railways investment grade rating
The Moody's rating agency has upgraded the rating of Open Joint Stock Company Russian Railways to Baa3 with a positive outlook.
The upgrade means that debt obligations issued by Russian Railways have been assigned an investment grade rating.
In its report, the agency noted the Company's high credit quality, moderate level of debt and strong liquidity profile.
The current rating level of OJSC Russian Railways is now one step higher than the rating of the Russian Federation.
Russian Railways has become one of four Russian companies which are not exporters and do not belong to the extractive sector which have received an investment grade rating.
Russian Railways also has ratings from the two other main international rating agencies, Standard & Poor's and Fitch, at the sovereign rating of the Russian Federation: "BB+/BBB-" with a "positive" outlook.
In addition, the Company has a credit rating from the Russian national rating agencies ACRA (AO) and Expert RA at the maximum level of AAA(R) /ruAAA, outlook stable.