RusRating Assigns Credit Rating to ZPIFN Aktiv-PremierTrust
OREANDA-NEWS. RusRating has assigned a credit rating to the closed mutual real estate investment fund (ZPIFN) Aktiv-PremierTrust (Moscow). The rating is "BBB" on the national scale and "BB" on the international scale, in both cases with a stable outlook.
The rating is based on solid business ties to the TEN Group plus the Fund's substantial real estate assets, which generate a steady cash flow sufficient to meet current interest obligations and pay down its debt principal.
Constraining factors include the significant percentage of real estate assets in the construction stage.
ZPIFN Aktiv-PremierTrust was set up on 2 June 2009 and is managed by the company TEN - Development, which has solid business ties to the TEN Group. The group's principal line of business is the construction and management of commercial real estate.
The Fund works only with qualified investors and is authorised to take in loans. Its largest creditors are Uralsib Bank, MDM Bank, Globexbank and Ellipse Bank. All loans are fully covered by property collateral (class "B" commercial real estate). Lease revenues generated by real estate assets are sufficient to service these obligations. The Fund's financial condition is judged healthy.
Комментарии