Moody’s confirms Globaltrans’ Ba3 rating; stable outlook
Globaltrans Investment PLC (“the Company” or together with its consolidated subsidiaries “Globaltrans” or “the Group”) (LSE ticker: GLTR) announces that Moody’s Investors Service has today confirmed the Ba3 corporate family rating (CFR) and Ba3-PD probability of default rating (PDR) of Globaltrans. The outlook on the ratings is stable.
Concurrently, Moody’s confirmed the B1 senior unsecured rating of the bonds issued by the New Forwarding Company, a 100% subsidiary of Globaltrans, which is guaranteed by Globaltrans, and assigned the loss given default rate of 77% (LGD-5) to the issue.
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NOTES TO EDITORS
Globaltrans is a leading private freight rail transportation group with operations in Russia, the CIS and the Baltic countries. The Group’s main business is the provision of freight rail transportation services. Globaltrans provides services to more than 500 customers and its key customers include a number of large Russian industrial groups in the metals and mining and the oil products and oil sectors.
Globaltrans' global depositary receipts (ticker symbol: GLTR) have been listed on the Main Market of the London Stock Exchange since May 2008. Globaltrans was the first freight rail transportation group with operations in Russia to have an international listing.
To learn more about Globaltrans, please visit www.globaltrans.com
Some of the information in this announcement may contain projections or other forward-looking statements regarding future events or the future financial performance of Globaltrans. You can identify forward-looking statements by terms such as 'expect', 'believe', 'anticipate', 'estimate', 'intend', 'will', 'could', 'may' or 'might', the negative of such terms or other similar expressions. Globaltrans wishes to caution you that these statements are only predictions and that actual events or results may differ materially. Globaltrans does not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of Globaltrans, including, among others, general economic conditions, the competitive environment, risks associated with operating in Russia, rapid technological and market change in the industries Globaltrans operates in, as well as many other risks specifically related to Globaltrans and its operations.