Debt instruments of VIS Development have been assigned a high reliability rating
The rating agency RAEX (Expert RA) has assigned a high reliability rating of ruAA to the debt instruments of VIS Development. By February 2018, the company plans to issue its series 01 bonds worth a total of RUB 2.3 billion.
This will be the second issue of bonds under a public-private partnership project implemented by VIS Development in Yamal-Nenets Autonomous District. In September of this year, the company successfully completed an issue of bonds worth RUB 1.7 billion, which was a positive precedent for the non-concession PPP projects market.
According to the current project, six children's schools were built and commissioned in several cities of Yamal. Three of them have already been transferred to the government of the District, sale and purchase agreements have been signed for the remaining facilities, with all payments included in the budgets of the respective levels. Prior to the transfer to municipalities in 2018-2019, the company will carry out operational and maintenance work of the facilities.