OREANDA-NEWS. Russian ratings agencyExpert RA has ranked UTair Aviation and UTair Finance at the A+ level, quoted as 'a very high level of credit worthiness' and designated the outlook for the two companies as 'stable.'

Credit ratings for UTair Finance bonds series BO-03, BO-04, BO-05, BO-06, BO-07, BO-08, BO-16, and 4-05 have also been confirmed at the A+ level.

The ratings decision was positively influenced by the high level of business diversification and debt structure of both companies, their position on the market and their level of informational transparency. It was also positively influenced by companies' business activities, lack of overdue payments and quality of corporate governance, assigned a separate Expert RA rating of level 7. The ratings agency experts also put special emphasis on the company's asset volume and capital growth in the period from December 31, 2010 to June 30, 2013 as well as on sufficient for structural diversification of liabilities, revenues and prime costs.

As of June 30, 2013 UTair Aviation assets amounted to 60.4 bln RUB 60.4 and capital amounted to 3 bln RUB.

According to monthly business magazine RBC, UTair Aviation was ranked 11th among the top 100 fastest growing Russian companies in 2012.

UTair Aviation revenue for 2012 amounted to 72.5 bln RUB, 18.3 bln RUB more than in 2011 and representing YoY growth of 33.9%. The company's net profit for 2012 was 369.8 mln RUB, demonstrating a YoY growth of 41.6% or 108.7 mln RUB.

“Companies within the UTair Group have been highly ranked by one of the largest ratings agencies for several years in a row,” commented UTair Aviation CFO Igor Petrov. “This accurately reflects the confident positions of the Group's companies on financial market. The company's policy on route network optimization, fleet modernization and service quality improvement has had a positive effect on financial and performance indicators and company reputation within the investment community.”