Listen Live
    Fitch Ratings

    Fitch Downgrades Russian Flag Carrier Aeroflot to 'B+'

    © Flickr/ Gideon Benari
    Russia
    Get short URL
    0 312
    Subscribe

    Fitch Ratings has downgraded Russia's largest airline Aeroflot's Long-term foreign currency Issuer Default Rating (IDR).

    MOSCOW/LONDON (Sputnik) — Fitch Ratings said Monday it had downgraded Russia's largest airline Aeroflot's Long-term foreign currency Issuer Default Rating (IDR) to 'B+' from 'BB-' and placed it on Rating Watch Negative (RWN).

    "Aeroflot's rating downgrade reflects our expectations of weakening credit metrics over 2015-2017, principally due to rouble devaluation and lower yields," Fitch said in a statement.

    "The RWN reflects the expected negative impact of Aeroflot's announced acquisition of a majority stake in OJSC Transaero Airlines on its already stretched financial profile, at least in the short-term," the statement said.

    Related:

    Fitch Upgrades Greece's Long-Term Currency Ratings to 'CCC'
    Fitch Downgrades Ukraine Ratings Over Debt Restructuring Announcement
    S&P Affirms Ukraine Long-Term Foreign Currency Rating at 'CC'
    Tags:
    rating, Aeroflot, Fitch Ratings, Russia
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik