Moody’s Assigned Rating to Three Issues of New Forwarding Company
OREANDA-NEWS. February 20, 2012. Globaltrans Investment PLC (the “Company” and together with its consolidated subsidiaries “Globaltrans” or the “Group”; LSE ticker GLTR) announces that Moody’s Investors Service (Moody’s) has recently assigned a provisional (P)B1 rating with positive outlook to three proposed issues of three-year Russian rouble (RUB) denominated bonds for a total amount of up to RUB 15 billion to be issued by Globaltrans’ wholly-owned subsidiary New Forwarding Company. The Company will guarantee the bond issues.
The corporate family rating for Globaltrans assigned by Moody’s remains unchanged at Ba3 with positive outlook.
In connection with its subsidiary’s proposed bond issues, Globaltrans also announces that as of 31 December 2011 the Group’s total debt was USD 379.1 million, net debt stood at USD 258.4 million and 79% of borrowings were denominated in RUB.
Note: The provisional ratings are provided in advance of the bond issues. Upon a conclusive review of the transaction, Moody's will assign definitive ratings to the bonds. The debt figures are based on management accounts.
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