OREANDA-NEWS. National Rating Agency has affirmed its national scale 'A' credit rating on Zarechye LLC.

The rating affirmation reflects the company's affiliation with one of Russia's largest investment and production groups, its high market value assets, zero external debt, profit for the nine months ended 30 September 2014 and equity reversal to the upside. The company is not exposed to the devaluation risk and bears a diminished inflation risk due to the Moscow's property market established practice of charging rental transactions in the Class A property sector in US dollars. Further developments in the forex and office space rental markets are hardly predictable. NRA will closely monitor the situation and take appropriate rating actions, if a negative scenario unfolds.

The rating is constrained by the unfinished status of Zarechye LLC's business project and its formally poor financial strength metrics. The company's second office building project is expected to be fully renovated and delivered to the market in 1H 2015. With basic repair works completed this year, it is now time to carry out the interior finishing.