Russian Helicopters awarded debut credit ratings by Fitch and Moody’s
04.09.2012 / Moscow

Russian Helicopters, part of Russian Technologies and a leading global designer and manufacturer of helicopters, announces that it has received initial credit ratings from two global credit-rating agencies, Fitch Ratings and Moody’s Investors Service.

Fitch has assigned Russian Helicopters a long-term rating of BB+, and Moody’s has assigned a Ba2 rating. The outlooks on both ratings are stable.

Russian Helicopters CEO Dmitry Petrov said: “The award of these ratings is an acknowledgement of our status as one of the world’s leading companies in the helicopter manufacturing sector. Credit ratings are an important step in the development of Russian Helicopters, as the Company seeks to emulate global best practice standards of corporate governance and financial transparency.”

Sergey Yarkovoy, CFO of Russian Helicopters, said: “The ratings awards are recognition of the strong financial position of Russian Helicopters. With credit ratings in place, we will be able to continue pursuing prudent financial policies as we seek to diversify our funding and increase our attractiveness to potential investors.”

Among the factors Moody’s and Fitch cited to support their ratings are Russian Helicopters’ solid forward order book, wide product range and strong position in key markets, as well as the support that Russian Helicopters can expect to receive from the state as a company of national strategic importance.

The full text of the Moody’s press release announcing the rating can be found here.

The full text of the Fitch press release announcing the rating can be found here.

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Russian Helicopters, JSC is a subsidiary of UIC Oboronprom, which in turn is a part of Russian Technologies State Corporation. It is one of the global leaders in helicopter production and the only helicopter design and production powerhouse in Russia. Russian Helicopters is headquartered in Moscow. The company comprises five helicopter production facilities, two design bureaus, a spare parts production and repair facility, as well as an aftersale service branch responsible for maintenance and repair in Russia and all over the world. Its helicopters are popular among Russian ministries and state authorities (Ministry of Defence, Ministry of Internal Affairs, Emergency Control Ministry), operators (Gazpromavia, UTair), major Russian corporations. Over 8000 helicopters of Soviet/Russian make are operated in 110 countries worldwide. Traditionally the demand is highest in the Middle East, Africa, Asia-Pacific, Latin America, Russia, and CIS countries. Russian Helicopters was established in 2007. In 2011 its IFRS revenues increased 27.8% to RUB 103.9 billion. Deliveries reached 262 helicopters.

Partners of Russian Helicopters: AirTaxi Service (interior completions and maintenance); Tranzas (software, navigation systems, aviation simulators); CSTS Dinamika (technical training means for aviation flight and engineering personnel); BETA AIR (testing equipment and aviation electronics); Ural Works of Civil Aviation (repair of helicopter engines and components, as well as gearboxes).

UIC Oboronprom, JSC is a multi-profile industrial and investment group established in 2002. It is a part of Russian Technologies State Corporation. Its main tasks include: helicopter engineering (Russian Helicopters, JSC) and engine-building (United Engine Industry Corporation managing company).

Russian Technologies State Corporation was established in November 2007 to support Russian industry in developing, producing and exporting high-tech industrial products. The Corporation includes 22 directly managed companies and 17 holdings, of which 12 are in the defence sector and five in civil industry. In total Russian Technologies comprises 592 companies. The Corporation has its headquarters in Moscow, and has a presence in 60 of Russia’s regions. It exports its products to 70 countries.

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