NRA Affirms Staroak Ltd’s ‘A’ Credit Rating; Outlook Stable
OREANDA-NEWS. National Rating Agency has affirmed its national scale ‘A’ credit rating on Staroak Ltd with a stable outlook. NRA’s ‘A’ credit rating (falling into the “Holding and Financial Companies” section of NRA’s rating list) was first assigned to Staroak Ltd on Dec. 19, 2013. The latest rating action (the ‘A’ credit rating affirmation) was on Apr. 7, 2015.
The current affirmation reflects the company’s good quality assets, adequate liquidity position and financial strength, as well as its adequate equity and potential extraordinary support from Staroak Ltd’s beneficiary owners.
The rating is constrained by factors, such as the high concentration and volatility of the company’s income base, which stems from Staroak Ltd’s dependence on funds generated by the investment portfolio and destabilizes its financial performance.
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