OREANDA-NEWS. RusRating has assigned a credit rating to ZAO Kontsern Lussine (Moscow). The rating is “BBB” on the national scale and “BB” on the international scale, in both cases with a stable outlook.

According to the agency, the rating is based on the absence of a debt burden and a history of several years' successful operations.

Constraining factors include the Company's relatively modest size and a low operating margin.

About the Company:

ZAO Kontsern Lussine is a smaller company that began operations in the early 1990's, providing restoration, reconstruction and construction services in the city of Moscow. To date it has restored thirty-eight existing structures and erected fifteen new ones, among them historical buildings, churches, hotels, business centres and multi-family dwellings. Currently it is renovating the Ararat Park Hyatt Hotel and rebuilding a multi-functional complex linked to the Moskva Hotel. The Company is owned by three private individuals - Samvel Frunzeyevich Sargsyan, Ararat Dzhavanshirovich Tavadyan and Grigor Viktorovich Gasparyan - who hold equal stakes.

The Company has no debt burden but its operating margin is low. Its assets consist mainly of accounts receivable, reflecting investments in construction projects. Overall risk sensitivity is moderate. Liquidity is sufficient.