OREANDA-NEWS. July 26, 2012. According to the agency, the rating is based on strong support from the company’s owner and generally strong profits among Moscow-based real estate developers.

Constraining factors include a substantial debt burden and the company’s modest size.

Hanoverdy Overseas Limited is a privately-owned, Cyprus-registered company that provides financial services (including credit). It is linked through common beneficiary owners to a group of Russian real estate developers that control retail space in Moscow and whose substantial financial resources are complemented by official connections.

ZAO RusRating is an independent rating agency accredited by the Ministry of Finance of the Russian Federation. The company was set up in 2001 and is a member of the GlobalRating group. Its primary services are the provision of credit ratings to banks, industrial firms and their debt instruments; it also provides analysis of various aspects of the Russian financial sector.