Standard & Poor’s Raises Its Long-term Credit Ratings on Severnaya Verf
18.10.2007 (12:45)
Standard & Poor's Ratings Services has raised its long-term and short-term credit ratings on Russian shipbuilding plant Severnaya Verf to "Â", the agency’s press release reads according to PortNews.The outlooks are stable. The company’s rating under national scale is ruBBB+.
Severnaya Verf shipyard OJSC is one of the largest shipbuilding companies of Russia. Current order backlog of the company exceeds $2 billion. Major orders are construction of naval destroyers of 956m project for Chinese Navy and corvettes of 20380 project for Russian Navy. Major shareholders of the company are United Industrial Corporation CJSC (72.23%, affiliated with Mezhprombank) and RFFI (20.96%). The authorized capital of Severnaya Verf amounts to RUR 147.825 thou divided into 147.825 thou shares with a nominal value of 1 ruble each.