OREANDA-NEWS. National Rating Agency has assigned its national scale 'A' credit rating to TRK-Krasnogorsk LLC (TRK-Krasnogorsk) based on the company's support rating of 'RS4'. The company's stand-alone national scale credit rating of 'BBB-' was assigned on May.23, 2014 and withdrawn on Apr.28, 2015 due to expiry of the rating contract. On withdrawal, TRK-Krasnogorsk was assigned an exit rating of 'BBB-'.

The rating is supported by TRK-Krasnogorsk's affiliation with a strong Russian real-estate sector group. The latter is committed to supporting the company financially, although it has no obligation to either provide explicit/ implicit support for TRK-Krasnogorsk or make additional investment in the company. NRA also notes that TRK-Krasnogorsk owns an asset that generates a stable cash flow and covers the company's current liabilities.

The rating is constrained by the commercial real-estate market's challenging environment,TRK-Krasnogorsk's markedly deteriorated profitability and high debt burden. Forex-nominated bank loans taken by the company pressure its financial strength and bottom-line result. That said, NRA notes that the long-term nature of the company's debt helps deter the negative impact of the nominal revaluation of the bank loans taken by TRK-Krasnogorsk.

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While NRA has obtained information from sources it believes to be reliable, NRA does not guarantee that this information is perfectly correct, complete and accurate, as it does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives.