Moody's: NT outlook negative

Moody's Investors Service said it changed to negative the outlook on the Ba3 corporate family rating of Transportation Investments Holding Ltd., which is the parent company of National Transportation Group.

The agency said the outlook change reflects a negative pressure on the domestic transportation industry under the global financial crisis and weakening economic conditions in Russia and hence on NT's business and cash generation, which may result in a tightening liquidity later in 2009 given the company's relatively short debt maturity profile.

Moody's acknowledged NT's consistently strong operating performance supported by a significant investment in its high-margin port terminal operations and said NT benefits from its strong market position in this industry and in its key business segment, Russia's rail transportation industry.

The agency expects the company to end the year with a debt-to-EBITDA ratio of about 2 times.

© 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.