OREANDA-NEWS. RusRating has assigned a credit rating to OOO UNGP-FINANCE (Moscow). The rating is “BBB-” on the national scale, with a stable outlook.

The rating is based on strong support from the Company's owners and seven years of successful operations in the Russian financial markets.

Constraining factors include high leverage, assets and liabilities heavily concentrated by counterparty, and low profitability.

UNGP-FINANCE (former LR-Invest) is a limited liability company that draws on financial market resources to extend loans. Its sole owner is ZAO Uralneftegazprom [trs. Ural Oil and Gas Industries CJSC], which operates six oil and gas fields in the Orenburg region. Uralneftegazprom is controlled by a group of investors that includes former AFK Sistema President and minority shareholder Yevgeni Novitski and Viktor Khoroshavtsev, the former head of Bashneft, a one time senator for Udmurtia and currently a member of the Bashkortostan parliament.

Capital adequacy is low. External liabilities consist mainly of a single bond issue. The main components of assets are a loan to OOO Yuniliks and veksels (promissory notes) acquired from the same counterparty. Profitability is low. Liquidity is sufficient. Risk sensitivity is moderate.