OREANDA-NEWS. National Rating Agency has affirmed its national scale 'A' credit rating on Terra Holding LLC. NRA assigned its first-time individual credit rating of 'A' to the company on Jan. 29, 2014.The latest rating update ('affirmation of the 'A' credit rating) dates Feb. 9, 2015.

The rating is supported by the company's access to long-term funding, successful track record of implementing loft projects, the high rate of advance payments for loft apartments under the current project, Terra Holding's positive net operating cash flow, as well as the project's high internal rate of return and the management's quick decision making, which allowed cost saving and retention of positive project's profitability metrics.

Offsetting these strengths are risks, such as the company's high leverage and exposure to the currency risk, which has already affected the project's marginal revenues. The rating is also constrained by Terra Holding's low business diversification (as a group member company, it is concerned with only one, loft apartment, project) and the adverse commercial and residential property market conditions.