For First Time, Fitch Rates RUSNANO BBB- with Positive Outlook

24 December 2018

Fitch Ratings has given RUSNANO a long term issuer default rating (IDR) of BBB- for both Russian and foreign currencies. It assessed the company’s outlook as Positive. Fitch has also given RUSNANO a short-term IDR of F3 for foreign currencies and a senior unsecured debt rating of BBB-. RUSNANO’s credit rating is now on a level with Russia’s sovereign debt rating.

As the Fitch ratings analysts point out, RUSNANO’s liquidity position for 2018 is good. The agency also notes that the company has significant unused credit facilities from Russian banks, and these are sufficient to cover its debt service commitments for several years.

Artur Galstyan, RUSNANO’s Managing Director for Finance: “The award of an investment-grade long-term credit rating by Fitch will enable RUSNANO to reduce the cost of debt and get access to financing for its investment activities on more attractive terms. In addition, a high credit rating from an international ratings body will give international and Russian partners in the structuring of new nanotechnology investment funds a more positive assessment of RUSNANO-related risks.”

Additional information

Reference

RUSNANO Joint-Stock Company was founded in March 2011 through reorganization of state corporation Russian Corporation of Nanotechnologies. JSC RUSNANO contributes to implementation of the state policy on the development of the nanotechnology industry by investing directly and through investment funds of nanotechnology in financially effective high-technology projects providing the development of new production facilities in the Russian Federation. Its primary investment focus is in electronics, optoelectronics and telecommunications, healthcare and biotechnology, metallurgy and metalwork, energy, mechanical engineering and instrument making, construction and industrial materials, chemicals and petrochemicals. 100 percent of RUSNANO’s shares are state owned. Thanks to RUSNANO’s investments, there are currently 97 factories and R&D Centers opened in 37 regions in Russia. JSC RUSNANO has profit for the last 4 years.

Management of assets of RUSNANO JSC is carried out by Limited Liability Company established in December 2013, RUSNANO Management Company. Anatoly Chubais is the Chairman of its Executive Board.

Work to establish nanotechnology infrastructure and carry out educational programs is fulfilled by RUSNANO’s Fund for Infrastructure and Educational Programs, which was also established during the reorganization of the Russian Corporation of Nanotechnologies.