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Transneft Assigned Credit Rating AAA.ru with Stable Outlook

Date of publication: 27 November 2020

The NCR rating agency has assigned Transneft the credit rating AAA.ru with a stable outlook. The Agency points to the Company’s strong market positions and sales markets’ resilience, as well as the balanced throughput capacity of its westward and eastward pipelines.

According to the Agency, Transneft is notable for a high debt service quality and the low level of debt burden; coupled with the balanced asset funding structure and strong indicators of current liabilities coverage with liquid assets, these maintain the high rating of its financial portfolio. In the meantime, the turnover reduction in 2020 as a result of the OPEC++ deal puts some pressure thereon.

The stress testing under negative market trends (macro-financial stress, negative dynamics in the industry) carried out by the Agency did not have any significant impact on the basic assessment of the Company’s own solvency.

In keeping with the Agency’s methodology, the AAA.ru rating reflects the highest level of financial standing, financial reliability and resilience of the Company.

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