OREANDA-NEWS. RusRating has assigned a credit rating to ZAO Peresvet-Invest (Moscow). The rating is “BBB+” on the national scale and “BB” on the international scale, in both cases with a stable outlook. According to the agency, the rating is based on affiliation with the GK Peresvet real estate group, a substantial existing project portfolio and successful past operations in the real estate market.

Constraining factors include the non-transparent ownership structure of GK Peresvet, a lack of consolidated accounts and the resulting limited financial transparency.

ZAO Peresvet-Invest is a full-cycle real estate developer that operates in the market for residential, suburban and commercial real estate in Russia. The Company is a member of the Peresvet group, which currently has more than 700 000 square metres of construction projects under way in the city of Moscow plus Moscow, Nizhni Novgorod, Volgograd, Rostov and Krasnodar regions. ZAO Peresvet-Invest shares are held by V.N. Laskov, V.L. Melnik and O.V. Pronin; all have been pledged as collateral against a loan from MDM Bank.

In addition to acting as a subcontractor the Company serves as the financial hub of the Peresvet group, as a result of which accounts payable and receivable on transactions with affiliated parties account for a large portion of the balance sheet, as do financial investments in GK Peresvet. Revenues are comparatively modest. Liquidity is sufficient. Risk sensitivity is moderate.