MOSCOW, Nov 27 (PRIME) -- International rating agency Moody’s has affirmed group rating of Russia’s largest truck producer Kamaz at Ba3, the probability of default rating at Ba3-PD, and the baseline credit assessment at b3, but it worsened the outlook on ratings to Negative from Stable, the agency said in a statement on Tuesday.
The agency changed the outlook as Kamaz’ financial results in 2018 were noticeably worse than expected. Still, affirmation of the ratings reflects strong support from the Russian government, and a comfortable structure of debt and the redemption schedule, Moody’s said.
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