Fitch rates New Forwarding program BB+

Fitch Ratings said it affirmed Globaltrans Investment plc's long-term foreign-currency issuer default rating at BB+ with a stable outlook and assigned wholly owned subsidiary open joint stock company New Forwarding Co.’s proposed notes under a RUB 100 billion prospective domestic bond program an expected local currency senior unsecured rating of BB+(EXP).

The agency said it rates the proposed domestic notes to be issued by New Forwarding, one of Globaltrans’ key subsidiaries, at the same level as Globaltrans’ long-term local-currency issuer default rating due to the benefit of the public irrevocable offer to be issued by Globaltrans.

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