The rating agency RAEX (Expert RA) rated the credit status of Transneft on the level of ruAAA (corresponding to the A++ rating on the earlier used scale), with a stable forecast.

In view of the awarded rating, the Agency points out that Transneft continues demonstrating a high breakeven level attained due to the cost optimization programme, among other policies. The company's forecasted liquidity is estimated as strong and the current debt load level as low.

The Agency positively assesses the Company's activities aimed at lowering the foreign exchange risks, taking into account the successful hedging strategy and ongoing refinancing of the foreign exchange debt by issuing rouble bonds.

In addition to other positive factors, the analysts mention a high level of the Company's information transparency.

OAO AK Transneft published this content on 14 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 17 July 2017 12:27:15 UTC.

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