Yu.I. Burleiko Risk assessment of the transport company – bond issuer [Electronic resource] / Yu.I. Burleiko, N.V. Yakovleva // Young Science of Siberia: electron. scientific. zhurn. – 2020. – No 4. – Access mode: https://mnv.irgups.ru/toma/410-2020, free. – Title from the screen. – Yaz. rus., eng. (date of the application: 28.02.2021)
This article examines the role of bonded loans in financing railway transport companies. The authors noted the development directions of the bond market in the industry under consideration and the importance of assessing the risk of default of the bond issuer in modern conditions. We also analyzed and assessed the risk of default of the issuer of bonds of one of the largest companies in this industry: PJSC TransContainer and RK Novotrans. We presented an analysis of potential losses based on the calculation of the leverage ratio and the ratio of debt to EBIDTA. Based on the analysis results, a high risk of default was noted for the company RK Novotrans. The ways to reduce the risk of default of the studied issuing organizations are proposed. The prospects for the bond market of transport companies in the railway industry are considered. The experience of JSC «Russian Railways» in the placement of «green» perpetual bonds with variable coupon yield is investigated. The features of financing "green" projects of this company are considered. The prospects for the development of the use of hybrid financial instruments to expand the capital of large railway companies are noted.
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