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The Company carries out a balanced approach to credit portfolio management and debt capital raising, ensuring the required flexibility of current liquidity management that takes specific business requirements into account.
The company raises debt capital taking into account the following target parameters:
The net debt to EBITDA ratio is not more than 2.5x in the long term
The net debt to EBITDA ratio is one of the key indicators of the stability of company debt
The proportion of indebtedness in foreign currency in the debt portfolio is not more than 40%
The share of debt in foreign currency shows the structure of revenue and costs of Russian Railways
20% к 80%
The ratio of short-term to long-term indebtedness is in the range of 20% to 80%
This ratio shows the long-term character of investment projects implemented by the Company
The following results have been achieved based on the performance in 2013
The net debt to EBITDA ratio at year-end 2013 was
The proportion of indebtedness in foreign currency at year-end 2013 was
The short-term indebtedness at year-end 2013 was
The total value of the loan portfolio at year-end 2013 was