MOSCOW, September 7. /TASS/. International agency Fitch Ratings has downgraded long-term rating of Russia’s flagship carrier Aeroflot in foreign currency to "B+" from "BB-" with a negative outlook , the agency said in a statement.
According to the statement, Aeroflot's rating downgrade reflects expectations of weakening credit metrics over 2015-2017, principally due to ruble devaluation and lower yields.
The negative outlook reflects the expected negative impact of Aeroflot's announced acquisition of a majority stake in OJSC Transaero Airlines on its already stretched financial profile, at least in the short-term. In resolving the negative outlook Fitch will assess Aeroflot's ability to restructure Transaero's debt and operations.