Fitch lifts Globaltrans view to positive

Fitch Ratings said it revised Globaltrans Investment plc's outlook to positive from stable and affirmed the company's long-term foreign-currency issuer default rating at BB+.

The positive outlook reflects expectations that the company will maintain its robust financial profile with funds from operations adjusted net leverage at below 1.5x, despite high capex and shareholder distributions, as well as expected market rates correction from 2020, Fitch explained.

The ratings also consider the company's position as one of the leading commercial rolling-stock operators with a market share of about 7% of Russian freight rail turnover in the first half of 2018, the agency said.

The company is exposed to cyclical commodity industries, Fitch noted.

© 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.