OREANDA-NEWS. On March 29, 2007 the international rating agency Fitch confirmed the default rating of the issuer Russian Railways in foreign currency at BBB+, outlook Stable, reported the press-centre of  Russian Railways. Fitch also confirmed the Company’s senior unsecured rating of BBB+ and the short-term rating of F2.  In addition, Fitch confirmed Russian Railways’ national senior unsecured rating of AAA(rus). According to Fitch, the ratings reflect the close ties that Russian Railways enjoys with the Russian government, which has a sovereign rating of BBB+, outlook Stable. The ratings also reflect the Company’s sustainable financial indicators and profitability.

The Russian government is a direct owner of Russian Railways and has seats on the Company’s Board of Directors, which approves the budget, capital investment and, therefore, the level of earnings.  As Fitch also noted, Russian Railways plays a strategic role in Russia’s economy, including the shipment of crude oil.