OREANDA-NEWS. National Rating Agency has affirmed its 'A+' credit rating on Nadezhny Dom CJSC.

The rating reflects the company's large and increasing market share and consistently positive key performance indicators.

Nadezhny Dom holds a large and diversified portfolio of serviced mortgages, plus a sizeable portfolio of originated and refinanced loans. The company demonstrates consistent income generation, higher-than-industry-average profitability and favourable revenue structure, which makes it less sensitive to the temporary volatility in demand for mortgage loans.

The deteriorating macroeconomic environment affected the market situation in the 2nd half of 2014 and pulled down the rate of mortgage lending. In addition, NRA notes the company's increased debt leverage, although this seems to be a short-term phenomenon, caused by Nadezhny Dom's participation in AHML's mortgage-backed securities programme. NRA will monitor the progress of this project to assess its potential effects on the company's credit profile.