Fitch lowers ratings of Aeroflot because of Transaero
The international ratings agency Fitch has lowered the rating of Aeroflot from BB- to B+ with a ‘negative’ prognosis.
The purchase and the merger with Transaero influenced the decision of the agency.
Fitch experts believe that the state carrier complicated its financial portfolio, as Aeroflot will have to solve debt problems. In addition, the company will be affected by the further devaluation of the ruble, which will only lead to increased costs.
‘‘The state-owned company has to restructure and solve the problems of Transaero. It will have a negative impact on the company,’’ Gazeta.ru cites the agency.