NCSP Group reports that, according to statements dated 9 and 10 March 2016, Moody’s Investors Service and Moody’s Interfax Rating Agency, majority owned by the latter, placed the global and national scale ratings of PJSC NCSP and a number of Russian utility and infrastructure companies government-related issuers (GRIs) and their subsidiaries on review for downgrade. This action follows Moody's placement of Russia's Ba1 government bond rating on review for downgrade on 04 March 2016.
|
|
Rating |
Status/Outlook |
Date of last action |
|
Global scale rating |
|||
|
Current |
Ba3 |
On watch |
09-March-2016 |
|
Previous |
Ba3 |
Negative |
09-July-2015 |
|
National scale rating |
|||
|
Current |
Aa3.ru |
On watch |
10-March-2016 |
|
Previous |
Aa3.ru |
Negative |
09-July-2015 |
NCSP Group is the largest port operator in Russia and the third largest in Europe, in terms of cargo turnover in 2015. NCSP Group cargo turnover in 2015 totalled 139.7 million tonnes. Consolidated revenue to IFRS in 2014 totalled USD 956 million, and EBITDA was USD 569 million. NCSP Group consolidates the following companies: PJSC Novorossiysk Commercial Sea Port, LLC Primorsk Trade Port, JSC Novorossiysk Grain Terminal, OJSC Novorossiysk Ship Repair Yard, OJSC NCSP Fleet, JSC NLE, OJSC IPP, Baltic Stevedore Company LLC, and JSC SFP.