Expert RA rating agency has once again confirmed a level ruAAA credit rating for FSUE “Rosmorport”. The rating outlook is stable.

For the first time, the enterprise's credit rating was published in 2018 and is annually confirmed by the agency at the maximum level.

FSUE "Rosmorport" is a strategic, backbone enterprise established in order to carry out the effective development and operation of federal property facilities in the seaports of the Russian Federation and on the approaches to them. The enterprise's development strategy involves the implementation of investment projects aimed at increasing transit cargo traffic through domestic ports, including by increasing port capacity. The enterprise is under the jurisdiction of the Federal Agency for Maritime and Inland Water Transport, which coordinates its activities from agreement of the development strategy to the approval of the annual program activities.

Expert RA positively assesses the industry's resilience to external shocks. A number of unique facilities are under the economic management of FSUE “Rosmorport” at the federal level: underwater hydraulic structures (canals, fairways, water areas), surface hydraulic structures (berths, piers, breakwaters), navigation safety systems. In addition, the enterprise operates a fleet of diesel-electric icebreakers, tugboats, pilotage and dredging vessels. The enterprise's business profile is also supported by the lack of dependence on key customers and counterparties due to the specifics of the activity, as well as diversification of line of services. A moderate degree of depreciation of fixed assets and the presence of tariff risk have a restraining effect on the assessment of the enterprise's market and competitive positions.

The agency also highly assesses the liquidity of FSUE “Rosmorport”: at the moment, the enterprise has provided financing for its capital expenditures for the coming year.

The rating has a stable outlook, which implies a high probability of maintaining the credit rating at the current level over the 12-month horizon.