Moody’s confirmed TransContainer’s Ba3 rating
Moody’s agency confirmed TransContainer’s Ba3 rating. The rating has been announced in the official statement of the agency.
The agency has called strong competitive advantages of the company as the national leader of growing container transportation market, prudent operational strategy focused on strengthening of its competitive position, operational effectiveness, financial discipline, synergy with other Delo Group businesses and ongoing growth of operational and financial metrics among factors which positively influence on TransContainer’s rating.
At the same time the agency placed rating outlook on review having explained its decision with risks related to coronavirus pandemic outbreak and a threat of decline of trade volume.
Ba3 rating of the leading national container operator was confirmed in April 2019.
“Since that time the company has showed steady operational and financial growth. Dynamic remained positive in the first quarter of 2020 on the background of COVID-19 pandemic outbreak: the volume of profitable transportations has grown by 6.4 percent comparing the same period of the previous year, the company’s revenue has grown by 6.7 percent according to Russian accounting standards. Prognosis metrics in April indicate revenue growth by 10.8 percent comparing the same period of the previous year. The company is still providing stable and uninterrupted operations. Container transportation market remains one of the most prosperous clusters of transport industry experiencing the smoothest impact of quarantine restrictions,” deputy CEO - financial director of the company, Pavel Skachkov, said.
“Current negative economic trends at global markets are reflected in TransContainer’s development strategy. The management of the company recognizes all risks related to pandemic outbreak and manages them successfully offering its customers optimal logistics solutions in every particular case,” he added.
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