RAEX Agency (RA Expert) assigned the ruAA+ national credit rating to PJSC TransContainer with stable outlook
RAEX Rating Agency (RA Expert) assigned the ruAA+ national credit rating to nonfinancial company TransContainer on June 5, 2017. The rating outlook is stable.
The Agency notes Company’s leading positions in the Russian market of Transportation equipment for shipping cargo via various means of transport. Containers are durable enough for repeated use and can be stacked. Containers are divided into medium-duty (three- and five-tonne), which conform to former Soviet Union standards and are still used for shipments in Russia and the CIS, and ISO (20- and 40-foot) containers, which are used for Russian and international shipments. The universal standard unit TEU (twenty-foot equivalent unit) was introduced to measure transport flow volumes.
container transportations, diversified sales pattern and low debt burden. The Agency takes a favorable view of the opportunities for Company’s cargo base growth due to containerization of cargo transported by rail and cargo flow from other modes of transport.
National credit rating of PJSC TransContainer is just one step below the sovereign rating of the Russian Federation, however, when assigning the rating, the Agency doesn’t specify the factor of support by the controlling shareholder in default of past cases of support and the Agency’s expectations of no need for such support in future.
High level of the national credit rating assigned to PJSC TransContainer is another independent evidence of the Company’s business model stability and its high solvency ratio.
To recap, PJSC TransContainer has already got the Ва3 international credit rating assigned by Moody’s Investors Service Agency and the BB+ credit rating by Fitch Rating Agency with stable outlook.