2008-09-03 23:49:02 -

- Fitch Ratings has today assigned Russian-based Sukhoi Civil Aircraft Company ("SCAC") a Long Term Issuer Default rating ("IDR") of 'BB+', a senior unsecured rating of 'BB+' and a Short-term IDR of 'B'. All ratings apply to Foreign and Local currency debt. The Outlook on the Long Term IDR is Stable. Fitch has also assigned National ratings of Long-term 'AA(rus)'

and Short-term 'F1+(rus)' to the company.

In line with Fitch's parent subsidiary linkage methodology, the ratings are driven by SCAC's strong links to its ultimate parent, the Russian government. Through this shareholding, SCAC can rely on the support of the Russian state for additional equity injections over and above what has already been contributed. Other factors influencing the rating include the likely strong local demand for the company's product driven by the high economic growth in recent years, the presence of French-based engine manufacturer SNECMA as risk-sharing partner on the Super Jet 100 (SSJ100) programme and the long-term positive cash flow generation capabilities of the company's business model.

The Stable Outlook reflects Fitch's expectation that SCAC will continue to be supported by the Russian state finacially and operationally and continue to see growing demand for the SSJ100 as the aircraft is brought to the market.

The long-term IDR assigned to SCAC in the result of due-diligence rating assessments reflects the vision of the international rating agency of SCAC's business perspectives as well as confirm that the Company's strategy is sound and adequate in all its aspects -- from the choice of the existing product line and market segments to creation of an efficient management structure and policy.

The acquired level of rating demonstrates that Sukhoi Civil Aircraft has a comprehensive information disclosure policy and adequate business transparency to attract loans and investments on more cost-effective basis.

"The Long-Term IDR BB+, outlook stable, assigned to Sukhoi Civil Aircraft by Fitch Ratings is unique in the Russian aviation sector. Moreover, Fitch's independent evaluation confirms the long-term business viability even at the start-up stage, when the company is not generating enough cash flows from its main operating activities. At the same time, the Issuer Default Rating of 'BB+' is a reliable indicator of SCAC's ability to perform its long-term commitments before its investors and creditors," said Maxim Grishanin, SCAC's Senior Vice-President on Economics and Finance.

Sukhoi Civil Aircraft Company
Olga V. Drozdova,
Head of Investor Relations Department
Telephone: +7 (495) 727-19-88
Fax: +7 (495) 727-19-83
ir@scac.ru
Web: www.scac.ru