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VTB Bank opens credit line for JSC Freight One

 
14 September 2011

In line with the development of cooperation with railway enterprises JSC VTB Bank has closed a RUB 5 billion 1-year credit line agreement with JSC Freight One. The company will channel the borrowed funds to back its current operations.

VTB Bank considers cooperation with the leading companies of railway sector as one of its top business priorities due to the strategic importance of the transportation sector for Russia’s social and economic development.


For reference:

JSC Freight One is the largest rail cargo operator in Russia and the CIS. The company’s market share in the total Russian rolling stock fleet is 24%, and freight turnover - 30%. The company owns a diversified freight car fleet and extensive client base. The company is characterized by high operational performance indicators, stable financial position, and a consistently low debt burden. International rating agencies Standard&Poor`s and Fitch have assigned long-term BBB- rating to the company. 


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