On August 9, 2023, the Expert RA rating agency upgraded the creditworthiness rating of the non-financial company VIS Group (JSC) to the level of ruA+, the rating outlook is stable. Previously, the company had a rating at the level of ruA with a stable outlook. This is stated in the agency's message.
The increase in the rating of VIS Group (JSC) is due to the good financial results of 2022, the agency's expectations regarding the growth of the size of the business due to the launch of a number of new projects and the change in the weight of the financial profile calculated by the agency due to the revision of the methodology used.
VIS Group (JSC) is the parent company of the VIS Group infrastructure holding, consolidating subsidiary sub-holding and operating companies. The Group is a vertically integrated holding company built on the divisional principle. It has its own investment, construction and operational resources and one of the largest portfolios of concession agreements and public-private partnership agreements, where the group's subsidiaries act as concessionaires or private partners. The Agency evaluates the company on the basis of consolidated financial statements in accordance with IFRS standards.
Historically, the group has been a large (more than 100 facilities have been commissioned) EPC/EPCM contractor mainly in the construction of oil and gas and energy infrastructure. Since 2013, a key area of work with projects in the field of PPP has begun to develop. At the moment, VIS Group is implementing a number of major infrastructure projects in the field of PPP, which are at the operational and investment stage, including the construction of a bridge over the Ob River in Novosibirsk, the Vinogradovo - Boltino -Tarasovka highway in the Moscow region, the Khabarovsk Bypass highway, the State Philharmonic Society and the Arctic Center in Yakutsk, a bridge over Lena River in Yakutia, the bridge across the Kaliningrad Bay, the District Clinical Center for Maternal and Child Health in Surgut and other projects.
According to the consolidated financial statements of VIS Group (JSC), according to IFRS standards, revenue by the end of 2022 amounted to 27.4 billion rubles, net profit – 1.2 billion rubles.
