Russian Ship Operator AO Sovcomflot Outlook Revised To Negative On Weaker Cash Flows, 'BBB-' Rating Affirmed Jan 12

Standard & Poors, January 2012

Abstract
We believe that Russian shipping company AO Sovcomflot's financial profile weakened in 2011 and that its cash flow measures are no longer rating-commensurate. We expect that the company's operating performance will remain strained given the weak prospects for the tanker shipping industry in 2012. We are revising our outlook to negative and affirming our 'BBB-' rating on the company. FRANKFURT (Standard & Poor's) Jan. 23, 2012--Standard & Poor's Ratings Services said today that it revised its outlook on Russian shipping company AO Sovcomflot to negative from stable. At the same time, we affirmed our 'BBB-' long-term corporate credit rating and 'ruAAA' Russian national scale rating on the company. The outlook revision reflects Sovcomflot's weaker than expected operating performance in 2011,...

Companies mentioned in this report are: AO Sovcomflot ,Russian Federation
Action: Outlook: Negative

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Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

AO Sovcomflot ,Russian Federation

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