OREANDA-NEWS. September 16, 2010. Russian market rating agency Expert RA has confirmed the high rating scores of UTair-Finance, a subsidiary of UTair Aviation and issuer of the airline’s bonds. UTair Finance’s rating was approved at the A level for “a high level of creditworthiness”.

This ranking is supported by the airline’s high liquidity - as of July 30, 2010 the company’s liquidity coefficient stood at 0.54. The company also displays a good diversification of payable accounts, large growth margins in a range of business activities and an impeccable credit history. In addition, UTair is characterized by high standard of corporate governance, as confirmed by a 6+ rating from RID - Expert RA consortium.

UTair-Finance is a subsidiary of UTair Aviation and was founded to develop and implement programs to attract investment for the parent company. From 2004 to 2010 UTair Finance placed 5 bond issues with a total nominal value of 7 billion rubles, two of which have been successfully redeemed. To date, the third bond issue, as well as exchange bonds of both issues, placed in March 2010, has been quoted in the top-level A1 list on the MICEX Stock Exchange.