On September 18, 2020, Russia's Analytical Credit Rating Agency (ACRA) affirmed the credit rating of Russian Post at AAA(RU), with a stable outlook, the rating of the bonds at AAA(RU), the rating agency informed.
The credit rating of Russian Post (hereinafter, the Company) is based on the very high systemic importance of the Company for the Russian economy, very high state influence on the Company, very strong market positions, strong business profile, large size, and high liquidity. The standalone creditworthiness assessment (SCA) is limited by medium profitability and leverage and moderate cash flow, ACRA notes.
The Company is the operator of the Russian government postal network, operating in all regions of the country. The Company's product range includes all types of postal services (delivery of written correspondence and postal items, international postal service, etc.), money transfers and delivery of pension payments, utility payments. The Company acts as a consumer goods and internet supplier in remote towns and settlements. The Company is wholly owned by the state.
