DJ S&P upgrades ratings of NCSP from BB to BB+ with a stable outlook
PJSC 'Novorossiysk Commercial Sea Port' (NCSP) S&P upgrades ratings of NCSP from BB to BB+ with a stable outlook 28-May-2021 / 19:30 MSK Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. =---------------------------------------------------------------------------------------------------------------------- Press Release S&P upgrades ratings of NCSP from BB to BB+ with a stable outlook May 28, 2021 NCSP Group (LSE: NCSP, MOEX: NMTP) announces that S&P Global Ratings (S&P) upgraded the long-term credit ratings of PJSC Novorossiysk Commercial Sea Port (NCSP) in foreign and national currency from BB to BB+ with a stable outlook. S&P experts expect that the volume of oil transshipments through NCSP ports will increase in 2021, as demand grows amid increased economic activity. The stable rating outlook reflects our expectations that NCSP will maintain stable credit performance in the next 2-3 years despite large investments, as well as maintain robust margins and at least acceptable liquidity, the agency said in their press release. NCSPGroup is the largest port operator in Russia by cargo turnover. PJSC NCSP controlling shareholder (62%) is PJSC Transneft. PJSC NCSP is traded on Moscow Exchange (NMTP) and London Stock Exchange as global depositary receipts (NCSP). NCSP Group comprises PJSC NCSP, Primorsk Trade Port LLC, JSC Novorossiysk Ship Repair Yard, SC NCSP Fleet, JSC NLE, IPP LLC, Baltic Stevedore Company LLC, and JSC SFP. PJSC NCSP and PJSC Transneft own NCS LLC on a parity basis. For more information, please contact: For press: MSidorov@ncsp.com =---------------------------------------------------------------------------------------------------------------------- ISIN: US67011U2087 Category Code: MSCH TIDM: NCSP LEI Code: LEIA0010014976 Sequence No.: 108182 EQS News ID: 1202278 End of Announcement EQS News Service =------------------------------------------------------------------------------------ Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1202278&application_name=news
(END) Dow Jones Newswires
May 28, 2021 12:30 ET (16:30 GMT)
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