Credit rating of the Group

During 2018 Sovcomflot Group continued to work with international credit rating agencies.

Moody’s Investors Service affirmed the Group’s credit rating at Ba1 with a stable outlook. Fitch Ratings reaffirmed the Group’s rating at BB with a positive outlook. S&P Global Ratings maintained the current credit rating for the Group at BB+ with a stable outlook.

Credit ratings of Sovcomflot Group as of 31 December 2018
S&P Global Ratings Fitch Ratings Moody’s Investors Service
Credit rating BB+ BB Ba1
Outlook Stable Positive Stable

Amid the general volatility in capital markets, at the end of the reporting period the Company’s Eurobonds traded at a discount to par value and had a yield to maturity in 2023 of 6.2 % with an average yield for the year of 5.6 %.

Yield to maturity of bonds of SCF Group and Russian Federation (%)
Source: Citibank