On 21 June 2019 S&P Global Ratings upgraded STLC’s long-term credit ratings in foreign and national currencies to BB from BB-, outlook was changed to “stable” from “positive”. Short-term credit rating was affirmed at B, STLC says in a press release.
ВS&P Global Ratings emphasized STLC's strengthened public role in the modernization and development of Russia's transport sector, greater involvement in state programs, and the increasing share of the transport leasing market in its report.
“The stable outlook on STLC reflects our view that in the next 12 months, the solid pipeline of government programs that involve STLC as a policy tool will continue to support the company's market share and its growing leasing portfolio, thereby sustaining its significant public policy role for the Russian government,” stated S&P Global Ratings in the press release published on 21 June 2019.
“S&P Global Ratings, one of the leading global rating agencies, appreciated the increasing role of STLC for the Government of the Russian Federation in the development of transportation sector and raised the company’s credit rating to BB. It will add momentum to our continuous efforts in attracting non-budget funds to finance state programmes and projects developed by STLC, the number of which has been constantly growing for the past several years,” comments STLC’s CEO Sergey Khramagin.