RAEX Confirms NIPI InjGeo Credit Rating
OREANDA-NEWS. Expert RA Rating Agency (RAEX) confirmed NIPI InjGeo long-term creditworthiness rating A, which means high level of creditworthiness and downgraded the rating sub-level from the second to the third. The rating outlook is "stable".
The rating of InjGeo was positively influenced by moderate high level of capital adequacy (0.37) and liquidity ratios as of 30.09.2014, wide opportunities to raise leveraged financing, low level of currency risks and vast geographic footprint.
The rating was restrained by absence of information on ultimate beneficiaries of the Company, high share of the largest buyer in the revenue structure for 2013, high share of accounts payable in total liabilities and accounts receivable in total assets as of 30.09.2014 together with low level of financial information disclosure.
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