OREANDA-NEWS. RusRating has assigned a credit rating to OOO “Troika Leasing” (Moscow). The rating is "BBB" on the national scale and "BB" on the international scale, in both cases with a stable outlook.

The rating is based on a low delinquency ratio on the Company’s lease portfolio and access to long-term liquidity through key business partners.

Constraining factors include modest capital adequacy, a limited range of funding sources, and the low diversification of the lease portfolio in terms of both individual borrower and equipment type.

OOO “Troika Leasing” was set up in 2004 and up until September 2013 was known as KRK.Leasing. The Company extends leases on commercial vehicles and construction equipment. It is controlled by Cyprus-registered Fondacaro Ltd. and its beneficiary owners have not been disclosed. Troika Leasing works closely with both B&N Bank and Troika-D Bank.

Capital’s share of the balance sheet is a modest 7.3%. External liabilities are not well diversified. Asset quality is healthy and shaped mainly by a lease portfolio with a low delinquency ratio (0.7%). Diversification by client is low: the largest client accounts for 27% of the portfolio. Earnings performance is weak: the Company’s return on assets to 30 September 2014 was 0.2% and its return on equity 2%. Liquidity is sufficient. Overall risk sensitivity is elevated.