OREANDA-NEWS. National Rating Agency has affirmed its national scale ‘A+’ credit rating on Intur-Hotel LLC.

The rating is supported by Intur-Hotel’s persistently high financial strength (underpinned by its sizeable equity, representing a large portion of the company’s funding mix), no-debt position and stable cash flows. The company owns a high-quality asset — a commercially attractive hotel complex with high market value. The end of 2013 saw a change in ownership for Inter-Hotel with AZIMUT Hotels Group (Russia’s leading hotel operator with 23 hotels in 19 Russian cities and assets in Germany and Austria) taking the hotel complex under management. In May 2015, AZIMUT Hotel Vladivostok, the industry’s largest project in the Russian Far East over the 2014-2015 period, was opened in Vladivostok.

The rating is constrained by Intur-Hotel’s sizable guarantee obligations in respect of the Group’s loans and the high assets and income base concentration — a weakness offset by the diversified investment portfolio at the holding company’s level. We also note the company’s exposure to general macroeconomic risks.