OREANDA-NEWS. Fitch Ratings has today affirmed Russia-based OJSC Investment Company IC Russ-Invest's ("IC Russ-Invest") ratings at Issuer Default 'B', Short-term 'B' and National Long-term 'BBB-(BBB minus)(rus)'. The Outlooks for the Issuer Default and Long-term ratings are Stable.

The ratings reflect IC Russ-Invest's high exposure to Russian market risk, resulting in potential earnings volatility, and potential corporate governance concerns that surround a small company owned by management. The ratings also reflect the absence of any debt at IC Russ-Invest.

Upside rating potential for IC Russ-Invest is currently limited by its size and reliance on proprietary trading, with a sole focus on the Russian market.

Downside pressure could result from material changes in leverage or capital management, which Fitch does not foresee at this stage.