Moody's rates Sinek Ba1

Moody's Investors Service said it assigned a Ba1 corporate family rating to OAO Svyazinvestneftekhim (Sinek), a holding company for the Republic of Tatarstan's key assets.

Moody's said it affirmed the existing Ba1 rating of the $250 million loan participation notes issued by Edel Capital SA for the sole purpose of financing its loan to Sinek Capital SA, a subsidiary of Sinek.

The outlook is stable.

The ratings reflect the company's position as an investment vehicle for Tatarstan, its portfolio of strong businesses, the market environment for companies in the oil and energy sectors and interest income from Sinek's long-term bank deposits, according to the agency.

The ratings are constrained by limited track record, corporate issues, debt levels and the risks of significant regional, industry and single company concentrations, Moody's said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.