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Moody's: Western High Speed Diameter notes Baa3
Moody's Investors Service said it assigned a Baa3 global scale local-currency rating to the RUB 25 billion senior unsecured bond issuance of the OJSC Western High Speed Diameter, a wholly owned enterprise of the City of St. Petersburg (Baa1 stable).
The outlook is stable.
Moody's said that while the bond was issued to co-finance a toll highway project, the rating of the bond is primarily based on (a) the credit quality of the City of St. Petersburg and (b) the direct and indirect support from both the city and federal governments.
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