Fitch confirms the B- rating of Condensate JSC, the outlook is stable

Fitch Ratings confirmed the long-term issuer default rating (IDR) B- of Condensate JSC in foreign currency. The outlook is stable.

In compliance with the report, the rating reflects the small size of the company, the risks connected with the buyers of its products and expected high debt. Currently Condensate JSC has no debts, though the company is going to draw up to $150 million for the modernization of the processing plant. Fitch expects, when the planned program of capital investment financed due to the borrowed funds is fulfilled, the FFO (funds from operation) gross adjusted leverage of the company will reach its peak – 5x in 2015 and reduce to less than 4x when the modernization is completed.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
42a Pushkina Street; Ufa, Bashkortostan 450076; Russia
E 54° 43.48836" N 55° 55.52346"
Telephone: +7 927 303 00 25

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer