OREANDA-NEWS. National Rating Agency has affirmed its national scale ‘A’ credit rating on AK BARS MORTGAGE LLC. The company’s individual credit rating falls into the “Holding and Financial Companies” section of NRA’s rating list.

The rating reflects AK BARS MORTGAGE’s affiliation with a strong financial group with a well-recognized brand, which provides strong support and avails its resources to the company, and the well-defined growth strategy, enabling the company to maintain financial stability. Other rating strengths include AK BARS MORTGAGE’s access to long-term interbank financing, successful execution of housing block construction projects and settlement of bad debts under its home mortgage loan programmes.

The rating is constrained by the unfavourable conditions in the residential and commercial property market and the company’s considerable dependence on its parent group for operational support and funding. Other risks include AK BARS MORTGAGE’s very high debt burden (consistent with its business profile) and weal financial performance entailing low profitability metrics.