“Expert RA” Agency confirms Transmashholding’s rating at the ruAA level, the forecast is stable.


The rating agency “Expert RA” has confirmed the credit rating of Transmashholding SA at ruAA level. The forecast is stable.

The agency has positively assessed the company’s business risk block. “Expert RA” rating agency¬†notes that, in recent years, the volume of TMH’s business has more than doubled, while maintaining a fairly high level of profitability.

The stability of the agency’s forecasts is also explained by the Group’s leading positions in the main sales markets in Russia, the existence of a base of long-term contracts and development potential, a highly diversified product range and geographical diversification of production. According to the Agency, it is indeed these factors that have ensured stable growth for the group and minimized the impact of macroeconomic changes during the crisis period.

The agency draws attention to the fact that TMH has a comfortable level of debt and permanently maintains a significant number of open lines of credit, which positively affects the assessment of the company’s projected liquidity.

The agency continues to positively assess the changes in the company’s risk management system, which is associated with TMH’s move to full property and industrial risk portfolio insurance. The quality of corporate governance is rated as “sufficiently high”.

As a result of the work carried out in 2020, Transmashholding SA’s revenues from sales of products and services amounted to 305 billion rubles compared to 286 billion rubles in 2019, showing an increase of 6.6%.

TMH has paid great attention to the development of its engineering skills, creation of new models of products and key components by its specialized organization TMH Engineering. 

New products for 2020 are (among others) the new 2ES5S and 3ES5S DC mainline electric freight locomotives, the RA-3 three-car rail bus “Orlan”, and the 81-775/776/777 series metro trains (which run in the Moscow metro under the name “Moskva – 2020”).

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