Ratings > Company project financing > Main Road OJSC
Main Road OJSC

Website of the corporation: www.m-road.ru/en

OJSC Main Road is a special purpose vehicle established 11/13/2007 by a consortium of investors including ALPINE BAU (Austria), BRISA-Auto-estradas de Portugal (Portugal), FCC (Spain), LEADER Management Company, Stroygazconsulting LLC, Gazprombank OJSC. On August 5, 2009, a concessionary agreement for the financing, construction and toll operation of the "New junction of the Moscow Automobile Ring Road (MKAD) and the M-1 'Belarus' Moscow – Minsk federal highway" was concluded between the Russian Federation, on the one hand, and OJSC Main Road, on the other hand.



Ratings
Rating TypeNationalTierOutlookDate*
Bond Issue Rating , 4-07-12755-А Отозван10.01.2017
Company project financing, credit ratingОтозван10.01.2017
Bond Issue Rating , 4-06-12755-АОтозван10.01.2017
Bond Issue Rating , 4-03-12755-АОтозван10.01.2017

*Date of assignment or revision of the rating

Rating Actions

10.01.2017
AK&M Rating Agency has withdrawn the national scale credit rating of Main Road, OJSC ('A+', stable outlook) due to the rating contract expiration and the Company's refusal to have the rating updated.
AK&M Rating Agency assigned a credit rating to Main Road, OJSC for the first time on December 30, 2011. The last rating action in relation to the Company was taken on December 30, 2015. All rating action announcements are published on the akmrating.ru website. The rating, along with any informa10.01.2017
AK&M Rating Agency has withdrawn the credit rating of bonded loan 4-03-12755-A ('A+', stable outlook) issued by Main Road, OJSC due to the rating contract expiration and the Company's refusal to have the rating updated.
AK&M Rating Agency assigned a credit rating to bonded loan of series 4-03-12755-A issued by Main Road, OJSC for the first time on September 16, 2010. The last rating action in relation to the bonded loan was taken on December 30, 2015. All rating action announcements are published on the akmrati10.01.2017
AK&M Rating Agency has withdrawn the credit rating of bonded loan 4-06-12755-A ('A++', stable outlook) issued by Main Road, OJSC due to the rating contract expiration and the Company's refusal to have the rating updated.
AK&M Rating Agency assigned a credit rating to bonded loan of series 4-06-12755-A issued by Main Road, OJSC for the first time on December 30, 2011. The last rating action in relation to the bonded loan was taken on December 30, 2015. All rating action announcements are published on the akmratin10.01.2017
AK&M Rating Agency has withdrawn the credit rating of bonded loan 4-07-12755-A ('A+', stable outlook) issued by Main Road, OJSC due to the rating contract expiration and the Company's refusal to have the rating updated.
AK&M Rating Agency assigned a credit rating to bonded loan of series 4-07-12755-A issued by Main Road, OJSC for the first time on September 14, 2012. The last rating action in relation to the bonded loan was taken on December 30, 2015. All rating action announcements are published on the akmrati30.12.2015
AK&M Rating Agency has affirmed the rating assigned to credit rating of infrastructure bonded loan 4-06-12755-A issued by Main Road, OJSC at 'A++' on the national scale. The outlook is stable.
The 'A++' rating indicates that bonded loan 4-06-12755-A qualifies as a bonded loan with exceptionally high creditworthiness, with the lowest imaginable risk of a delay in meeting obligations. Bonded loan 4-06-12755-A in the amount of RUB 8,173 million maturing in 5,824 days was used to fin30.12.2015
AK&M Rating Agency has affirmed the rating assigned to credit rating of infrastructure bonded loan 4-03-12755-A issued by Main Road, OJSC at 'A+' on the national scale. The outlook is stable.
The 'A+' rating indicates that bonded loan 4-03-12755-A qualifies as a bonded loan with very high creditworthiness. The risk of a failure to meet obligations in time is insignificant. Bonded loan 4-03-12755-A in the amount of RUB 8 billion maturing in 6,552 days was used to finance the proj30.12.2015
AK&M Rating Agency has affirmed the national scale credit rating of Main Road, OJSC at 'A+'. The outlook is stable.
The 'A+' rating indicates that Main Road, OJSC is a highly creditworthy borrower. The risk of a failure to meet obligations in time is insignificant. The rating assignment was based on the Credit Rating Methodology for Project Financing Companies rev. February 16, 2015, including the amendme30.12.2015
AK&M Rating Agency has affirmed the rating assigned to credit rating of infrastructure bonded loan 4-07-12755-A issued by Main Road, OJSC at 'A+' on the national scale. The outlook is stable.
The 'A+' rating indicates that bonded loan 4-07-12755-A qualifies as a bonded loan with very high creditworthiness. The risk of a failure to meet obligations in time is insignificant. Bonded loan 4-07-12755-A in the amount of RUB 1.4 billion maturing in 6,188 days was used to finance the pr30.12.2014
AK&M Rating Agency raised the national scale credit rating of OJSC Main road from 'A' to 'A+'. The outlook is stable.
The 'A+' rating indicates that OJSC Main road is a highly creditworthy borrower. The risk of a failure to meet obligations in time is insignificant. OJSC Main Road is a special-purpose vehicle established solely for implementing the building and operation project of the toll highway "N30.12.2014
AK&M Rating Agency raised the national scale credit rating of infrastructure bonded loan 4-03-12755-A issued by OJSC Main Road from 'A' to 'A+', with a stable outlook.
The 'A+' rating indicates that bonded loan 4-03-12755-A qualifies as a highly reliable bonded loan. The risk of a failure to meet obligations in time is insignificant. Bonded loan 4-03-12755-A in the amount of RUB 8 billion maturing in 6,552 days was meant to be one of the sources of f30.12.2014
AK&M Rating Agency raised the national scale credit rating of infrastructure bonded loan 4-06-12755-A issued by OJSC Main Road from 'A+' to 'A++', with a stable outlook.
The 'A++' rating indicates that bonded loan 4-06-12755-A qualifies as an extremely reliable bonded loan, with the lowest imaginable risk of a delay in meeting obligations.   Bonded loan 4-06-12755-A in the amount of RUB 8,172.9 million maturing in 5,824 days was meant to be one of the30.12.2014
AK&M Rating Agency raised the national scale credit rating of infrastructure bonded loan 4-07-12755-A issued by OJSC Main Road from 'A' tier 1 to 'A+', with a stable outlook.
The 'A+' rating indicates that bonded loan 4-07-12755-A qualifies as a highly reliable bonded loan. The risk of a failure to meet obligations in time is insignificant.   Bonded loan 4-07-12755-A in the amount of RUB 1.4 billion maturing in 6,188 days was meant to be one of the so11.12.2014
AK&M Rating Agency affirmed the national scale credit rating of bonded loan 4-07-12755-A issued by OJSC Main Road at 'A', tier 1, with a positive outlook.
The 'A' rating indicates that bonded loan 4-07-12755-A of OJSC Main Road qualifies as a highly reliable bonded loan. The risk of a failure to meet obligations in time is low, the full or partial debt restructuring risk is minimal. Bonded loan 4-07-12755-A in the amount of RUB 1.4 billi20.01.2014
AK&M Rating Agency affirmed the national scale credit rating assigned to OJSC Main Road at 'A', tier 1. The outlook is positive.
The 'A' rating indicates that OJSC Main Road is qualified as a highly reliable borrower. Risk of a delay in meeting liabilities is relatively low, restructuring risk for a loan / part of a loan is minimal. OJSC Main Road is a special-purpose vehicle established solely for implementing the b20.01.2014
AK&M Rating Agency affirmed the national scale credit rating assigned to infrastructure bonded loan 4-06-12755-A issued by OJSC Main Road at 'A+', tier 1. The outlook is stable.
  The 'A+' rating indicates that the bond issue is a highly reliable bonded loan. Risk of a delay in meeting liabilities is insignificant. The bonded loan was placed on December 28, 2012 pursuant to the concessionary agreement for the financing, construction and toll operation of a ne20.01.2014
AK&M Rating Agency affirmed the national scale credit rating assigned to infrastructure bonded loan 4-06-12755-A issued by OJSC Main Road at 'A+', tier 1. The outlook is stable.
The 'A+' rating indicates that the bond issue is a highly reliable bonded loan. Risk of a delay in meeting liabilities is insignificant. The bonded loan was placed on December 28, 2012 pursuant to the concessionary agreement for the financing, construction and toll operation of a new juncti28.10.2013
AK&M Rating Agency confirmed the 'A' national scale credit rating assigned to bonded loan 4-07-12755-A issued by OJSC Main Road. The outlook is positive.
The 'A' rating indicates that bonded loan 4-07-12755-A of OJSC Main Road qualifies as a highly reliable bonded loan. Risk of a delay in meeting liabilities is relatively low, restructuring risk for a loan / part of a loan is minimal. Bonded loan 4-07-12755-A in the amount of RUB 1.4 bi04.02.2013
AK&M Rating Agency confirmed the ‘A’ credit rating (positive outlook) assigned to OJSC Main Road as per the national scale.
  The ‘A’ rating indicates that OJSC Main Road (tax number: 7726581132) is qualified as a highly reliable borrower. Risk of a delay in meeting liabilities is relatively low, restructuring risk for a loan / part of a loan is minimal. OJSC Main Road is a special-purpose vehicle esta04.02.2013
AK&M Rating Agency confirmed the ‘A+’ credit rating (stable outlook) assigned to infrastructure bonded loan 4-06-12755-A issued by OJSC Main Road as per the national scale.
The ‘A+’ rating indicates that the bond issue is a highly reliable bonded loan. Risk of a delay in meeting liabilities is insignificant. The bonded loan was placed on December 28, 2012 pursuant to the concessionary agreement for the financing, construction and toll operation of a new ju04.02.2013
AK&M Rating Agency confirmed the ‘A’ credit rating (positive outlook) assigned to infrastructure bonded loan 4-03-12755-A issued by OJSC Main Road as per the national scale.
The ‘A’ rating indicates that the bond issue is a highly reliable bonded loan. Risk of a delay in meeting liabilities is relatively low, restructuring risk for a loan / part of a loan is minimal. Bonded loan 4-03-12755-A was placed on November 22, 2012 pursuant to the concessionary agre29.12.2012
CJSC AK&M Rating Agency withdrew the ‘A’ credit rating (positive outlook) assigned to bonded loan no. 4-03-12755-A of OJSC Main Road as per the national scale, due to the expiration of the contract for rating services
CJSC AK&M Rating Agency withdrew the ‘A’ credit rating (positive outlook) assigned to bonded loan no. 4-03-12755-A of OJSC Main Road as per the national scale, due to the expiration of the contract for rating services. 14.09.2012
30.12.2011
Analysis, Consulting and Marketing Rating Agency assigned the ‘A’ credit rating to OJSC Main Road as per national scale, with a positive outlook
The ‘A’ rating indicates that OJSC Main Road is qualified as a highly reliable borrower. Risk of a delay in meeting liabilities is relatively low, restructuring risk for the loan / part of the loan is minimal. OJSC Main Road is a special-purpose vehicle to implement the building and oper30.12.2011
30.12.2011
30.11.2011
06.06.2011
16.09.2010
26.05.2010


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