OREANDA-NEWS. National Rating Agency upgraded credit rating of Aeroexpress company to the "A+" level on the national scale. Being in a stable financial position, the company continues to sustain good growth rate, which is provided by both external and internal factors. 
Aeroexpress mobile application

The upgrade of Aeroexpress company rating is ensured by a variety of factors including reinforcement of the leading position in the intermodal transportation segment, confirmed by the increasing passenger traffic and the continuing market share growth, stable sales growth supported by the good business performance indexes, a noticeable improvement in the short term debt structure, as well as good prospects for development, taking into account, above all, regional expansion and the planned introduction of two-level rolling stock in the medium term.

“The agency continues to observe the high level of corporate administration, transparency and operational discipline of the company, efficient management, the good technological base, strong shareholder structure and the opportunity to rely on the resources and infrastructure of the parent companies,” says Tatiana Kovaleva, Senior Analyst at the National Rating Agency.

“The rating upgrade comes as undoubtedly very pleasant news for our company. National Rating Agency is one of the leading independent rating institutions, and we see obtaining such a high assignment from NRA as a truly remarkable achievement,” says Alexei Krivoruchko, CEO of Aeroexpress. – The upgrade of our credit rating has become possible due to our continuous work on improving our services, implementing innovative technologies, creating comfortable travel conditions for our passengers. I'm sure the "A +" level will be supported by further achievements in this ranking“.

As the result of year 2012 the revenue of Aeroexpress company exceeded that of 2011 by 23% coming up to 4.4 billion rubles. In 2012 the company significantly improved the short-term debt structure, which had a positive impact on its financial stability and liquidity indexes. At the end of the year long-term liabilities of the company accounted for over 89% of its financial debt. Moreover, in early 2012 Aeroexpress posted a bond issue, replacing its short-term liabilities, which resulted in the total corporate debt for the year to come up to 2.9 billion rubles. Therefore, taking into account the debt structure, the National Rating Agency estimates the level of Aeroexpress’s external liabilities as controlled: the company’s Net external debt/EBITDA index by December 31, 2012 equaled to 2.4. In addition, Aeroexpress company has a positive credit history, with all its service commitments carried out on time and in full.