OREANDA-NEWS. National Rating Agency has assigned its national scale 'A+' credit rating to NEVELCO HOLDING LIMITED. The rating falls into the "Holding and Financial Companies" section of NRA's rating list.

The rating is supported by the company's improving financial performance, growing equity and strong profitability, lower borrowings in 1H 2014, combined with moderate leverage, and reasonable liquidity metrics. The company can rely on its key partners in matters such as debt financing.

Sizable assets, which we view as reasonably diversified and having moderate quality, increase the company's investment and market risks. This risk is elevated when viewed in relation to the company's capital. Long-term investments are partly financed with short-term debt, which gives rise to additional liquidity risks and increases the interest risk. NEVELCO HOLDING's highly liquid asset reserve is relatively small. We regard the company's single name business concentration as above-average.