International Ratings Agency Moody’s changed outlook on ratings of TransContainer
On 3 October 2013 Moody’s Investors Service announced change in outlook to positive from stable on the Ba3 corporate family rating (CFR) and Ba3-PD probability of default rating (PDR) of TransContainer JSC. Also, Moody’s Interfax Rating Agency (a joint-venture between Moody’s Investors Service and the Interfax Information Services Group) has today affirmed the Aa3.ru long-term national scale rating of TransContainer.
According to Moody’s, the change in outlook reflects the below strengths:
- Company’s leadership on the rail-based container transportation market in Russia;
- Robust operating and financial performance of the Company;
- Diversified customer base;
- Balanced debt maturity profile and adequate liquidity, supported by solid operating cash flow and flexibility in capital expenditure
Moody’s also notes the Company’s potential for further upgrade of ratings within the next 12-18 months should the Company continue to demonstrate strong operational and financial performance.