Watch Status has been assigned to the credit rating of EuroTrans PJSC (hereinafter, EuroTrans or the Company) due to the emergence of information that could potentially influence the assessment of the financial profile of the Company, as well as due to the need to obtain additional data and assess the impact on the Company of legal proceedings involving counterparties and claims filed by government agencies.
The credit rating of EuroTrans continues to be A-(RU), outlook Stable. The rating reflects the strong business profile, medium position in the market of Moscow and the Moscow Region, and medium geographic diversification. The financial risk profile includes the medium size of business, high profitability, medium leverage, coverage, and liquidity, as well as weak cash flow.
EuroTrans (TRASSA brand) is one of the largest independent fuel operators in the market of the Moscow area. The Company is included in the list of systemically important entities of the Russian economy approved by Russia’s Ministry for Economic Development. It manages a chain of gas stations, oil depots, a commercial kitchen, a plant producing antifreeze liquid under its own brand, and a fleet of fuel trucks. It is also developing a chain of fast (more than 150 kW) EV charging stations.
potential outlook or rating change factors
The Watch Status assumes that a rating action is highly likely on a horizon of up to 12 months.
Removal of Watch Status and affirmation of the credit rating may be prompted by:
- Maintaining the Company’s financial profile assessments.
Removal of Watch Status and downgrading the credit rating may be prompted by:
- Deterioration of liquidity and the Company’s credit metrics.
Rating components
Standalone creditworthiness assessment (SCA): a-.
ISSUE RATINGS
No outstanding issues have been rated.
regulatory disclosure
The credit rating was previously assigned to EuroTrans PJSC based on the following methodologies: the Methodology for Assigning Credit Ratings to Non-Financial Corporations under the National Scale for the Russian Federation to calculate the SCA and determine the credit rating and the credit rating outlook of EuroTrans PJSC under the national scale for the Russian Federation and the Key Concepts Used by the Analytical Credit Rating Agency within the Scope of Its Rating Activities to ensure consistent and uniform application of ACRA’s methodologies, rating scales, models, and key rating assumptions.
The Watch status has been assigned to the credit rating of EuroTrans PJSC in accordance with the Key Concepts Used by the Analytical Credit Rating Agency within the Scope of Its Rating Activities.
The credit rating of EuroTrans PJSC assigned under the national scale for the Russian Federation was published by ACRA for the first time on October 10, 2022.
The credit rating and its outlook are expected to be revised by September 5, 2026.
The Watch Status is expected to be retained for the credit rating for one year.
The credit rating was assigned based on data provided by EuroTrans PJSC, information from publicly available sources, and ACRA’s own databases.
The credit rating is solicited and EuroTrans PJSC participated in its assignment.
In assigning the credit rating, ACRA used only information, the quality and reliability of which were, in ACRA’s opinion, appropriate and sufficient to apply the methodologies.
ACRA provided the following additional services to EuroTrans PJSC: assessment of the obligations of a company/regions, municipalities and countries for compliance with sustainable development principles from July 31, 2023 to the present and assessment of the obligations of a company/regions, municipalities and countries for compliance with sustainable development principles from April 4, 2025 to the present.
No conflicts of interest were discovered in the course of credit rating assignment.
