09.06.2016, 15:21
NRA’s Credit Rating on Archer Finance LLC’s Series 01 Bonds Affirmed
OREANDA-NEWS. National Rating Agency has affirmed its ‘BBB+’ credit rating on Archer Finance LLC’s series 01 bonds (Reg. No. 4-01-36438-R, ISIN code: RU000A0JUJW8) and taken the rating off the Watchlist. The outlook for the rating is Stable. The bonds were assigned NRA's first-time credit rating of ‘AA-’ on Apr. 14, 2014. The latest rating action (the rating downgrade to ‘BBB+’ and placement on Watchlist/ Indefinite) was on Feb.20, 2016.
Archer Finance LLC was founded in November 2009 and was originally named Centre of Juridical Solutions, LLC. Its key business area is financial intermediation. Archer Finance’s RUR 5.9 bn series 01 bond issue was registered with the Bank of Russia on Mar. 20, 2014 and offered at par value on the Moscow Interbank Currency Exchange (MICE) on Apr. 8, 2014. The bond has a 3-year maturity and is paying a 8.75% annual rate coupon. The bond is guaranteed by the Cyprus-based SVENNER VENTURES LIMITED. On Apr. 28, 2014, the issuer's authorized body decided to purchase the bonds from investors who had requested early redemption (by making an irrevocable notification) at the end of the bond’s life at 105% of par. On May 8, 2014, the bond was included in MICE’s Level-A (I) quotes list, but transferred to Level III quotes list on Apr. 7, 2016. In December 2014, the issuer registered two RUB 10 bn issues of exchange-tradable bonds that have not yet started to be placed in the market.
NRA’s analytical products, including ratings and the contents of this press release, are statements of NRA’s independent opinion as of the date they are expressed and not statements of fact or recommendations to make any investment decisions or conduct any stock market transactions. NRA is not responsible for any results obtained from the use of opinions and/or information contained in this press release.
While NRA has obtained information from sources it believes to be reliable, NRA does not guarantee that this information is perfectly correct, complete and accurate, as it does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives.
Archer Finance LLC was founded in November 2009 and was originally named Centre of Juridical Solutions, LLC. Its key business area is financial intermediation. Archer Finance’s RUR 5.9 bn series 01 bond issue was registered with the Bank of Russia on Mar. 20, 2014 and offered at par value on the Moscow Interbank Currency Exchange (MICE) on Apr. 8, 2014. The bond has a 3-year maturity and is paying a 8.75% annual rate coupon. The bond is guaranteed by the Cyprus-based SVENNER VENTURES LIMITED. On Apr. 28, 2014, the issuer's authorized body decided to purchase the bonds from investors who had requested early redemption (by making an irrevocable notification) at the end of the bond’s life at 105% of par. On May 8, 2014, the bond was included in MICE’s Level-A (I) quotes list, but transferred to Level III quotes list on Apr. 7, 2016. In December 2014, the issuer registered two RUB 10 bn issues of exchange-tradable bonds that have not yet started to be placed in the market.
NRA’s analytical products, including ratings and the contents of this press release, are statements of NRA’s independent opinion as of the date they are expressed and not statements of fact or recommendations to make any investment decisions or conduct any stock market transactions. NRA is not responsible for any results obtained from the use of opinions and/or information contained in this press release.
While NRA has obtained information from sources it believes to be reliable, NRA does not guarantee that this information is perfectly correct, complete and accurate, as it does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives.
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