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Summary: Russian Railways (JSC) Dec 11

  • ID: 2031477
  • December 2011
  • Region: Russia
  • Standard & Poors
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The rating on Russian Railways (RZD) reflects Standard & Poor's Ratings Services' opinion that the likelihood of timely and sufficient extraordinary government support from the Russian Federation (foreign currency BBB/Stable/A-3; local currency BBB+/Stable/A-2) is "extremely high." We assess RZD's stand-alone credit profile (SACP) at 'bb+', based on our view of RZD's "satisfactory" business risk profile and a "significant" financial risk profile. We consider RZD as a government-related entity (GRE). In accordance with our criteria for GREs, our view of the "extremely high" likelihood of extraordinary support is based on our assessment of RZD's: "Critical" role for the Russian government, due to its strategic, socioeconomic, and political importance as the leading provider of passenger rail services, and the rail network owner,...

Companies mentioned in this report are: Russian Railways (JSC)
Action: Review

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Russian Railways (JSC)

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