S&P Global Ratings revised outlook on STLC’s long-term credit ratings in foreign and local currencies form “stable” to “positive”. Long-term ratings were affirmed at ‘BB-’, short-term rating at ‘B’.
The outlook upgrade reflects S&PGR’s view on gradual strengthening of STLC's role as one of the Government's policy tools to modernize and develop Russia's transport sector, broadening of the Company’s public policy mandate, aimed at supporting Russia’s aviation, maritime, automobile, and machinery industries, as shown by its increasing market share over the past wo years and greater involvement in state programs, and strong links with the Russian Government, among others.
“The positive outlook on STLC reflects our view that, over the next 12 months, an ongoing solid pipeline of government programs, involving the company as a policy tool, will continue to support STLC's market share and balance-sheet growth, resulting in a stronger public policy role”, stated S&PGR in the press release published on 16 August 2017.
“We continue working on gradual improvement of our credit ratings and are very pleased that analysts of one of the world leading rating agencies view STLC's business position as strong, reflecting its stable franchise and business model and high capital adequacy ratio. Outlook upgrade on STLC’s long-term credit ratings to “positive” is the second consecutive positive rating action made by S&P after last year’s rating upgrade which confirms the Company is making the right steps in its further development,” comments STLC’s First Deputy CEO Anton Borisevich.