PortNews 04.04.2019PortNews: Standard & Poor's Global increases rating of Novorossiysk Commercial Sea Port to “BB”, positive outlook
International Rating Agency Standard & Poor's Global increased rating of PJSC “NCSP” from the level of “BB-” to the level of “BB”, positive outlook, NCSP says in a press release.
The rating upgrade reflects the agency’s view on the ongoing integration of PJSC NCSP and the Transneft Group owned by the state, as well as the confidence in providing support from Transneft in case of need.
NCSP Group is the largest port operator in Russia by cargo turnover. PJSC Transneft is the controlling shareholder (62%) of PJSC NSCP.
NCSP Group is traded on Moscow Exchange (NMTP) and London Stock Exchange as GDRs (NCSP). NCSP Group volumes in 2018 totaled 140.2 million tons. NCSP Group consists of: PJSC NSCP, LLC Primorsk Trade Port, LLC Novorossiysk Grain Terminal, JSC Novorossiysk Ship Repair Yard, JSC NCSP Fleet, JSC NLE, LLC IPP, Baltic Stevedore Company LLC, and LLC SFP.