Moody's confirms TransContainer

Moody's Investors Service said it confirmed the Ba2 corporate family rating of JSC TransContainer, along with its Aa2.ru national scale credit rating.

The outlook is negative.

This concludes the review for possible downgrade that began in August 2009.

The confirmation acknowledges that TransContainer has finalized arrangements to address its refunding risk over the next 12 months and its management has stated a shift toward a more conservative financial policy, Moody's said.

However, the negative outlook reflects estimated 2009 key financial metrics that are weak for a Ba2/Aa2.ru-rated business in Russia, the agency said.

The ratings are supported by the company's leading position in the Russian rail-based container transportation market and an expectation that the market will at least stabilize in the short term, Moody's added.

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