Fitch lifts Aeroflot

Fitch Ratings said it upgraded Aeroflot - Russian Airlines' long-term issuer default rating to BB from BB-.

“The upgrade reflects our reassessment of the strength of the links between the company and its majority shareholder, Russia (BBB/stable) under Fitch's ‘Government-Related Entities (GRE) Rating Criteria.’ We now view financial implications of a default by AFLT as 'moderate' versus 'weak' previously and continue to view government ownership and control, and support track record as 'strong' and socio-political implications of a default as 'moderate,’ Fitch said in a press release.

The outlook is stable.

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