Fitch affirms Borets

Fitch Ratings said it affirmed Borets International Ltd.’s long-term foreign and local currency issuer default ratings at BB- and short-term foreign and local currency issuer default ratings at B.

The outlook is stable.

The agency also affirmed Borets Finance DAC's senior unsecured BB-.

Fitch said the ratings reflect Borets' lack of geographic, product and customer diversification against the company's high profitability and solid financial profile, with a funds from operations (FFO) margin exceeding 15%.

The ratings also reflect the leading position of Borets in a niche market in Russia and globally, stable demand for its key products and a solid share of aftermarket service revenue, the agency 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.