Credit rating of the Group

Moody’s Investors Service affirmed the Group’s credit rating at Ba1 with a stable outlook. S&P Global Ratings affirmed the existing credit rating for the Group at BB+ with a stable outlook. Fitch Ratings upgraded the Group’s rating to BB+ with a stable outlook.

Credit ratings of Sovcomflot Group as of 31 December 2019
S&P GLOBAL RATINGS Fitch Raitings Moody’s Investors Service
Credit rating BB+ BB+ Ba1
Outlook Stable Stable Stable

Amid the positive debt capital market dynamics for issuers at the end of the reporting period the company’s Eurobonds traded at a premium to par value and had a yield to maturity in 2023 of 3.2 % with an average yield for the year of 4.5 %.

Yield to maturity of bonds of Sovcomflot Group and Russian Federation (%)
Source: Citibank