OREANDA-NEWS. July 25, 2011. JSC "Rating Agency RFCA" ("RA RFCA") following its annual review pattern upgraded from "ВB1" to "BВВ3" the long-term credit rating of coupon bonds issued first under Tsesna's First bond programme; the short-term rating was raised from "NP" to "Р3" with a negative outlook, reported the press-centre of KASE.

Ratings of debt liabilities are based on the overall creditworthiness of Tsesna Corporation and supported by such positive factors as sustainable enough consolidated position of the Corporation in the bank services market, flour and noodles market in North Kazakhstan, as well as no history of defaults on bonded loans issued previously by the Corporation or its subsidiaries. RA RFCA predicts a further stable servicing of long-term debt securities by Tsesna Corporation.

RA RFCA stresses that grain processing along with capable production lines, strict selection of staples purchased, and the high quality of 150 products with the famous logo have allowed the Corporation to fetch over 28% in the flour market and 30% of the noodles market in Astana. Sales of flour and flour products accounted for 26% of the Corporation's combined turnover in 2010.

In RA RFCA's opinion, an indispensable positive factor was represented by a significant growth (7.8 times) of subsidiary Tsesnabank's deposits - from KZT22.7 bn to KZT176.7 bn since 2006, an evidence of the bank's reliability. The share of loans with the payback delay of more than 90 days dropped from 7% in 2009 to 4.6% in 2010. Selling banking and financial services generated 51% of the Corporation's total revenues in 2010.

JSC "Tsesna" Corporation" hails itself as an investment company with a broad network of subsidiaries operating in different industries since over 20 years. The Corporation's interests are represented in agricultural processing,  production of flour and flour-based products, financial services and real estate.