15.08.2022

Expert RA affirmed VIS Group’s credit rating at ruA with a stable outlook

One of the leading Russian rating agencies, Expert RA, has confirmed the ruA credit rating assigned to VIS Group in 2021 with a stable outlook. The official press release is published on the agency's website.

An independent assessment of the company was conducted on the basis of the Group’s consolidated financial statements and its subsidiaries acting as private partners and concessionaires in PPP and concession projects. Expert RA positively assessed VIS Group’s accumulated experience in the field of infrastructure construction using PPP mechanisms: the legislative framework in which they are implemented, and the development of tools for their financing”.

Analysts of Expert RA noted a high level of corporate governance, strategy development and a sufficient level of risk management regulation, as well as a strong business profile with projects diversified by industry and geography of presence. VIS Group carries out projects in five federal districts, in regions with high investment ratings. The holding's project portfolio has been formed until 2047.

“The Agency takes into account the provision of the Group’s construction capacities with a contract base – the backlog for construction and installation works for project execution is equal to eight times the Group’s revenue for 2021. At the same time, the total backlog, with regard to income from projects throughout their entire life cycle, is 514 billion rubles,” the agency’s press release says.

On August 10, 2022, another Russian rating agency, ACRA, also affirmed the credit rating of the VIS Group and the issued bonds at A(RU). Passing the rating procedure and regularly confirming credit ratings from several agencies is an established practice for large Russian companies, which allows to objectively assess their level of reliability and creditworthiness. For the first time, VIS Group passed the rating procedure in 2020, which was associated with the holding's entry into the capital markets and the issuance of project and exchange bonds.

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