OREANDA-NEWS. National Rating Agency has its affirmed its national scale ‘AA-’ credit rating on UWC Finance LLC. The outlook for the rating is positive.

UWC Finance’s key business area is raising of debt finance on public markets for United Wagon Company Research And Production Corporation (UWC RPC) that manages Group ICT’s rail industry projects. UWC Finance’s operations are an integral part of UWC RPC’s business and are consistent with the group’s long-term strategy. The positive outlook reflects the assignment of a positive outlook to UNITED WAGON PLC, the holding company for UWC RPC, which reflects UNITED WAGON’s distinctly positive financial performance in 2014, expected continuation of favourable growth dynamics, and anticipated positive changes in the its funding mix and general financial performance on the back of the proposed IPO.

The rating affirmation reflects UWC Finance’s affiliation with UWC RPC, a large production division of ICT Group. Given the company’s close integration in the group’s business, we view the likelihood of the parent’s timely and adequate extraordinary support (including financial aid) as high. One of the leaders in its market, UWC RPC has unique technological capabilities and a stable resource base. Its products consistently find a ready market, and its projects have nationwide importance. UWC RPC partners with Russia’s largest manufacturing and carrying companies, as well as domestic systemically important banks and international financial institutions. The combination of these factors allows UWC RPC and UWC Finance to continue a robust business even in adverse geopolitical and macroeconomic conditions.