Fitch Ratings has downgraded Russia's largest airline Aeroflot's Long-term foreign currency Issuer Default Rating (IDR).
Fitch Affirms Gazprom Rating at 'BBB-' With Negative Outlook. Fitch Ratings said Monday it had downgraded Russia's largest airline Aeroflot's Long-term foreign currency Issuer Default Rating (IDR) to 'B+' from 'BB-' and placed it on Rating Watch Negative (RWN).
"Aeroflot's rating downgrade reflects our expectations of weakening credit metrics over 2015-2017, principally due to rouble devaluation and lower yields," Fitch said in a statement. "The RWN reflects the expected negative impact of Aeroflot's announced acquisition of a majority stake in OJSC Transaero Airlines on its already stretched financial profile, at least in the short-term," the statement said.
Yury Mishchenko, graduated from Moscow Institute of Foreign Languages, has more than 15 years experience in tourism and travel. Working both in tour operator company as destination manager, and in travel agency as sales manager, he is focused on analysis of Russian tour operators’ daily routine. Recently, Yury works in Baginet Marketing and Sales Agency.