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 The company's stand-alone national scale credit rating of 'BBB-' was assigned on May.23, 2014 and withdrawn on Apr.28, 2015 due to expiry of the rating contract.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.