MOSCOW, December 24, 2010 /PRNewswire/ -- "Transoil" ("Transoil" or "the Company") is pleased to announce that the Company has received an initial credit rating from Moody's Investors Service ("Moody's"). Having analyzed key financial and business parameters, Moody's has assigned Transoil a corporate rating of Ba3. The rating outlook is stable. A rating of Aa3.ru on the national scale was also assigned to the company.
Among the positive aspects of the company Moody's focuses on the strong market positions of Transoil as one of the leading transport operators of crude oil and petrochemicals, with long-term relationships with major clients and customers of the services, a modern fleet, low debt burden, conservative financial policies and an ability to generate positive cash flow. In the report Moody's stresses the fact that Transoil's flexible investment program can be fully financed from operating cash flow funds.
After analyzing the market of railway deliveries of crude oil and petrochemicals, Moody's forecasts strong demand for services in this sector.
Commenting on the announcement, Guennady Timtchenko, Chairman of Transoil's Board, said, "Getting an initial credit rating is an important stage in the strategic development of Transoil. We have made great progress in the increase of business from the start of the company's activity, and now Transoil is one of the leading players in the market of railway deliveries of crude oil and petrochemicals. The high corporate rating of Ba3 reflects the current market opportunities of the company and affords a positive forecast for the company's future development."
Transoil is the largest private company specializing in the transportation of oil and petrochemicals. The company's market share in this sector in Russia is some 26%. The average age of Transoil's rolling stock is about 10 years, and it includes 26,500 tanks and 36 locomotives to power the company's rolling stock.
A network of company representative offices and branches covers eleven regions in Russia. The company is focused on strategic routes, including export to China, Mongolia, Finland, the Baltic countries, CIS and Eastern Europe. Customers of Transoil include leading companies such as: Gazprom Neft, Rosneft, Surgutneftegas, Transneft, Vostokneftetrans, Transnefteproduct.
For further information: Andrey Romashkin (PR manager), +7 (812) 332 22 00, ext. 1378 Stuart Leasor M:Communications M +44 7703 537721 (UK) M. +7 985 367 2758 (Russia) M +971 55 225 0738 (UAE) www.mcomgroup.com