OREANDA-NEWS. National Rating Agency has withdrawn its credit rating on Fargo Finance LLC’s Series 01 bond issue (Reg. No. 4-01-36433-R, ISIN code: RU000A0JUFK1) due to expiry of the contract. An exit rating of ‘D’ has been assigned. The company got NRA’s first-time credit rating on Mar. 5, 2014. The latest rating action (the credit rating downgrade to ‘D’) was on Feb. 18, 2016.

Fargo Finance LLC was registered in Moscow in September 2009. Its key business is raising money through bond sales for commercial property investment projects, implemented together with business partners. Fargo Finance’s RUR 6.0 bn series 01 bond issue, maturing on Feb. ,2019, was registered with the Bank of Russia on Jan. 13, 2014.The bond was offered to the public on the Moscow Exchange under an open subscription on Feb. 12, 2014.

On Feb. 12, 2016, NRA downgraded its credit rating on Fargo Finance LLC’s Series 01 bond issue to ‘C+/ Negative’ following the issuer’s technical default (a missed 4-period coupon payment). On Feb. 18, 2016, the rating was lowered to ‘D’ due to the issuer’s non-payment of the 4-period coupon on the Series 01 bond.