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Article: S&P assigns Russia's Borets International Ltd. 'BB-' rating, stable outlook.
- Article from:
- Russia & CIS Business and Financial Newswire
- Article date:
- March 20, 2009
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S&P assigns Russia's Borets International Ltd. 'BB-' rating, stable outlook
FRANKFURT. March 20 (Interfax) - Standard & Poor's Ratings Services has assigned its 'BB-' long-term corporate credit rating and 'ruAA-' Russia national scale rating to electrical submersible pumps producer Borets International Ltd., which is registered in the British Virgin Islands and operates mainly in Russia, the ratings agency said in a statement.
The outlook is stable.
"In our view, Borets' credit quality is constrained by the group's internal liquidity, with currently restricted access to external financing and a high dependence on shareholders to provide ...