19.07.2023
The leading Russian Analytical Credit Rating Agency (ACRA) confirmed the high credit rating of VIS Group at A(RU), changing the outlook from negative to stable. The official press release is published on the agency's website. The rating of the holding's bonds at the A(RU) level was also confirmed.
“The change in the forecast is due to the positive results of the Group’s activities in 2022, the receipt of budget subsidies due to the increase in capital expenditures on projects, as well as ACRA’s positive expectations regarding financial results in 2023-2025 associated with the onset of the active phases of ongoing projects and the appearance of new infrastructure projects in the portfolio,” ACRA said in a statement.
The agency's analysts noted VIS Group’s strong business profile, stable market position and regional diversification of ongoing projects. The experts also noted that the Group’s financial risk profile is characterized by a high level of profitability, and the holding has a good liquidity position and free cash flow: “The base of signed contracts indicates that the construction division of the Group will be provided with volumes of construction and installation works for a period of more than three years. The Group’s backlog currently stands at RUB 503 billion.”
For the first time, VIS Group passed the rating procedure in 2020, which was associated with entering the capital markets and issuing project and exchange bonds. The Group annually confirms the high rating, which makes it possible to objectively assess the level of reliability and creditworthiness. To date, the holding has made four issues of exchange-traded bonds for a total of RUB 8 billion. Another 9.5 billion worth of securities, including the first social bonds in Russia, were issued for projects.
ACRA confirms VIS Group’s credit rating at A(RU) and raised its outlook
“The change in the forecast is due to the positive results of the Group’s activities in 2022, the receipt of budget subsidies due to the increase in capital expenditures on projects, as well as ACRA’s positive expectations regarding financial results in 2023-2025 associated with the onset of the active phases of ongoing projects and the appearance of new infrastructure projects in the portfolio,” ACRA said in a statement.
The agency's analysts noted VIS Group’s strong business profile, stable market position and regional diversification of ongoing projects. The experts also noted that the Group’s financial risk profile is characterized by a high level of profitability, and the holding has a good liquidity position and free cash flow: “The base of signed contracts indicates that the construction division of the Group will be provided with volumes of construction and installation works for a period of more than three years. The Group’s backlog currently stands at RUB 503 billion.”
For the first time, VIS Group passed the rating procedure in 2020, which was associated with entering the capital markets and issuing project and exchange bonds. The Group annually confirms the high rating, which makes it possible to objectively assess the level of reliability and creditworthiness. To date, the holding has made four issues of exchange-traded bonds for a total of RUB 8 billion. Another 9.5 billion worth of securities, including the first social bonds in Russia, were issued for projects.