25.02.2016, 11:49
RusRating assigns credit rating to OOO PNK-Chekhov
OREANDA-NEWS. RusRating has assigned a credit rating to OOO PNK-Chekhov (Moscow region). The rating is "BBB" on the national scale and "BB" on the international scale, in both cases with a stable outlook.
The rating is based on a high operating margin, scope for support from the Company’s owners and for re-financing obligations, and the significant market value of its property holdings.
Constraining factors include a high debt burden, the need for debt restructuring and substantial exposure to currency risk.
About the Company
OOO PNK-Chekhov is a limited liability Russian company that holds a 73% stake in the class-A Chekhov warehouse complex managed by UK MLP; floor space controlled by the group totals 337 000 m2. The complex is located in southern Moscow region, 49 kilometres from the Moscow Ring Road along the M2 highway. The principal lessees are Eldorado, M.Video and the X5 Retail Group (all major retailers). Its ultimate beneficiary owner is the B&N Group.
The Company’s debt burden is high, as is its operating margin. Prospects for debt re-financing are strong. Assets consist mainly of warehouse space, while most liabilities take the form of financial debt. Risk sensitivity is high. Liquidity is sufficient.
The rating is based on a high operating margin, scope for support from the Company’s owners and for re-financing obligations, and the significant market value of its property holdings.
Constraining factors include a high debt burden, the need for debt restructuring and substantial exposure to currency risk.
About the Company
OOO PNK-Chekhov is a limited liability Russian company that holds a 73% stake in the class-A Chekhov warehouse complex managed by UK MLP; floor space controlled by the group totals 337 000 m2. The complex is located in southern Moscow region, 49 kilometres from the Moscow Ring Road along the M2 highway. The principal lessees are Eldorado, M.Video and the X5 Retail Group (all major retailers). Its ultimate beneficiary owner is the B&N Group.
The Company’s debt burden is high, as is its operating margin. Prospects for debt re-financing are strong. Assets consist mainly of warehouse space, while most liabilities take the form of financial debt. Risk sensitivity is high. Liquidity is sufficient.
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