URALSIB NPF CJSC's ‘AA-’ Reliability Rating Placed on Watchlist with Indefinite Outlook
OREANDA-NEWS. National Rating Agency has placed URALSIB Non-State Pension Fund CJSC (ZAO ‘NPF URALSIB’)'s reliability rating on its Watchlist with an indefinite outlook. The ‘A+’ reliability rating had been originally assigned on December 22, 2010, then raised to ‘AA-’ in 2011, and subsequently affirmed at this level on October 22, 2015. The rating is going to be updated before February 3, 2016.
The indefinite outlook was assigned due to a possible change in the Fund's ownership. As of today, 100% of the Fund's shares are owned by URALSIB BANK PJSC, but it is currently negotiating with several investors to sell. The change of owners may have either positive or negative effect on the activity of URALSIB NPF, lead to a change in the pension funds investment strategy, and a change in the ways of attracting customers.
The Agency will be monitoring the situation and, in case of implementation of one of the scenarios, will make an appropriate rating action. The rating placement on the Watchlist does not mean its withdrawal: the URALSIB NPF CJSC's ‘AA-’ reliability rating is valid till its withdrawal or change as a result of the review. The Agency notes that the Fund carries out its activities in the former regime, maintaining a strong market position. NRA believes that in the current situation the Fund's management team will be able to carry our adequate management decisions and risk management, which will allow the Fund to maintain high operational standards and fulfill its obligations on time and in full.
NRA’s analytical products, including ratings and the contents of this press release, are statements of NRA’s independent opinion as of the date they are expressed and not statements of fact or recommendations to make any investment decisions or conduct any stock market transactions. NRA is not responsible for any results obtained from the use of opinions and/or information contained in this press release.
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