Fitch puts DeloPorts rating for revision, downgrade possible

MOSCOW, Nov 29 (PRIME) -- International rating agency Fitch has put the long-term issuer default rating of BB- of stevedore holding DeloPorts, part of Russian tycoon Sergei Shishkaryov’s Delo Group for revision with a possible downgrade, the agency said in a statement on Friday.

The decision was made following a recent signing of a 60.3 billion ruble deal by Delo Group to buy 50% plus two shares in railway container operator TransContainer. The action reflects uncertainty around the new structure of Delo Group’s capital, changes in the business risk portfolio, and the future financing needs, the agency said.

The action may be revised after details of the new ownership and equity structure become clear and after the new business risk portfolio of Delo Group is assessed.

(64.1005 rubles – U.S. $1)

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