OREANDA-NEWS. On 01 July 2009 was announced, that Standard&Poor’s confirmed Veles Capital’s credit rating “B-/” with negative forecast, Russian scale rating remained on ruBBB- level.

Among major positive factors S&P analysts pointed adequate and growing capitalization, company’s focused strategy , ability to generate adequate financial results amid market turbulence.

S&P experts also pointed out stable management team working in Veles Capital since 1995 when the company was incepted. This factor contributes to company’s credit profile Moreover after failure of some Veles Capital’s competitors in the past few months, the company strengthened the management team. Due to this factor Veles Capital increased its brokerage client’s base by almost 30% since the end of September 2008.

Compared to other financial companies Veles Capital had suffered limited negative impact of the market downturn. This happened due to the company’s abstention from equity investments and margin lending, also Veles Capital reduced repo lending.

S&P experts pointed out positive dynamics of Veles Capital’s capitalization. In the crisis period the owners had made the capital increase (at the end of 2008, in 2009 Q1 and Q2) thus showing the company’s ability to resist outside risks in the period of financial instability.

Standard & Poor's is the international rating agency, the acknowledged leader in the high profile services on credit risks analysis and independent report on world financial markets. S&P had created the line of services for financial companies including systems of financial indices watch and internet services witch makes the work of international specialists on fund market research, planning and investment much easier. S&P had more 10 000 specialists operating in the company’s representative offices in 23 countries, including more 20 analytics working in Russia.

Veles Capital IC has been operating on the Russian financial market since 1995. The company renders trust management and brokerage services on Russian and foreign financial markets, as well as corporate finance, financial consulting and wealth management. Veles Capital is rated amongst TOP-10 of the Russian largest investment companies in total turnover of securities (RBC and Kommersant ratings). The company is acknowledged leader of the promissory-notes market, is rated amongst TOP-3 of the Russian largest bond market operators, TOP-20 of the larders stock market operator.