Nitrokhimprom LLC Assigned 'A' Credit Rating
OREANDA-NEWS. The National Rating Agency has assigned its national scale 'A' credit rating to Nitrokhimprom LLC.
The rating is underpinned by the company's high-quality assets, equity making a large share of the aggregate financing mix, zero debt position, soled liquidity position and strategic partners and beneficiaries, capable of supporting Nitrokhimprom in case of distress. The rating is constrained by the company's limited business scale, concentrated assets (as follows from the most recent financial statements), volatile operating performance, and exposure to risks, inherent in financial markets, that may pressure its financial and operating performance indicators.
Founded in 2001, Nitrokhimprom is predominantly engaged in investment and financial activities, including investing in securities and arranging debt financing solutions. Nitrokhimprom's individual credit rating falls into the "Holding and Financial Companies" section of the NRA's rating list.
Financials for 9 months ended Sept. 30, 2014 indicate that the company is financially strong and has a good liquidity position. Balance sheet assets totaled RUB137.6 million as of Sept. 30, 2014 and their structure was consistent with the nature of the company's business. Liquid assets represented a high (85%) portion of total assets as of the end of the latest reporting period.
At the same date, equity accounted for more than a half of the financing mix (equity to total assets was 0.52x), and there was no debt burden. The company's operating income and financial results are volatile, which is typical for the industry, while profitability metrics are viewed as good. Nitrokhimprom's total revenue and net profit for 9 months ended Sept. 30, 2014 amounted to RUB151.4 million and 28.8 million respectively.
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