OREANDA-NEWS. National Rating Agency has affirmed its ‘AA-’ credit rating on UWC Finance (Russian Cyrillic: ОВК Финанс) and maintained the Positive outlook for the rating. UWC Finance was assigned NRA’s first-time credit rating of ‘AA-’ on Nov. 1, 2013. The latest rating action (the credit rating affirmation at ‘AA-/ Positive) was on May 8, 2015.

UWC Finance’s key business is to raise debt finance in public markets for United Wagon Company Research And Production Corporation (UWC RPC). The company is an integral part of UWC RPC’s business, operating in line with the parent’s long-term strategy.

Founded in 2012, UWC RPC is a leading manufacturer of innovative rail freight vehicles operating on 1520 mm gauge tracks in Russia. It is an integrated rail holding company that manufactures new generation railcars and also provides transportation, operating leasing, engineering and railcar maintenance services. In 2015, UWC RPC produced 12,400 innovative railcars (a 28% increase year-on-year), or 41% of the total railcar production within the Commonwealth of Independent States. At year-end 2015, RPC UWC had 27.200 railcars under its ownership and management (a 43% increase year-on-year). In December 2015, RPC UWC acquired new assets, Transmashenergo LLC (an electric power plant manufacturer) and TSZ Titran-Express JSC (provider of railcar repair services and manufacturer of railcar parts). Also at year-end 2015, RPC UWC launched TikhvinKhimMash, a facility to produce ISO tanks for the needs of chemical manufacturers. In addition, the group plans to start making purpose-designed cars for specialized freight (dump cars, Schnabel cars, flat cars to carry steel coils, strips and tubes, logging railcars and well wagons). This will allow UWC RPC to diversify its product line and consolidate its competitive position in the innovative railcar manufacturing and sales business.

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