HMS Group (HMSG)
HMS Hydraulic Machines & Systems Group plc z
Fitch and Expert RA Affirm HMS Group Ratings and Stable Outlook
July 19, 2021
HMS Group (LSE: HMSG) announces today that Fitch Ratings affirms JSC HMS Group's Ratings (IDR)s at "B+" with the outlook "Stable" and Expert RA affirms at "ruA-" with the outlook "Stable".
The Fitch rating reflects HMS' "leading market position, strong customer base, albeit less diversified than peers', moderate profitability and comfortable liquidity position." Expert RA makes a point that unlike oil service companies HMS' activity doesn't carry excess force majeure risk that refers to manufacturing, and the Group forecasts its costs more precisely. The credit rating agency believes that a growth of HMS' backlog makes it count on a further improvement of the company's financial results aligned with the corresponding reduction of the net debt ratio below 2.5x.
The full text of Fitch's press release is available on the agency's website.
The full text of Expert RA's press release in Russia is available on the agency's website.
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About HMS Group
HMS Group is the leading pump and compressor manufacturer, as well as provider of flow control solutions and related services for the oil and gas, petrochemistry, nuclear and thermal power generation, water and wastewater sectors in Russia and the CIS headquartered in Moscow, Russia. HMS Group's products are mission-critical elements of projects across a diverse range of industries. HMS has a listing on the London Stock Exchange in the form of global depositary receipts (LSE: HMSG).
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