Комплаенс. Противодействие коррупции

Moody's confirms SUEK's rating at Ba2, upgrades outlook to 'stable'

23 April 2021
Moody's Investors Service has today affirmed the Ba2 corporate family rating and Ba2-PD probability of default rating of SUEK as well as the Ba2 ratings affirmed to the senior unsecured bonds issued by SUEK Finance, a Russia-domiciled wholly owned subsidiary of SUEK. The outlook on SUEK has been changed to 'stable' from 'negative'.

SUEK's Ba2 rating the following factors: (1) the company's status as a global thermal coal producer; (2) the company's competitive operating costs on the back of the weak rouble and cost-efficiency measures as well as the ability to manage its capital spending needs; (3) integration into power generation, which reduces volatility of financial metrics through the cycle; (4) its vast coal reserves and high operational diversification, with 27 operating sites; (5) the company's control over a considerable portion of its transportation infrastructure, which improves stability and reduces costs of coal deliveries; (6) its high quality of coal products, and diversified domestic and international customer base; (7) its sustainable revenue from domestic sales, which is not linked to seaborne benchmark prices; and (8) the proximity of the company's mines to its power generation customers in Russia.

The stable outlook on SUEK's rating reflects improved market environment and the company's continued positive cash generation.

See Moody's press release

Back on top