OREANDA-NEWS. National Rating Agency has assigned its first-time credit rating of 'A' to Union Finance Microfinance Organization LLC. The outlook for the rating is stable.

The rating reflects Union Finance's stable and profitable operations, increasing authorized capital, conservative and well-balanced underwriting practices, its equity and liquidity adequacy ratios comfortably exceeding the regulatory minima, fairly diversified funding base, growing loan portfolio and stable asset quality. The rating also factors in the company's adequate risk management system, which is commensurate with the size and complexity of the bank's business operations.

Offsetting rating factors are the absence of IFRS financial statements and the company's short track record of operating in a fast growing market segment.