OREANDA-NEWS. National Rating Agency has affirmed its ‘AA-’ credit rating on the Luxemburg-based Vardarac S.a.r.l.

The rating benefits from the high quality of Vardarac’s ultimate asset (the Legenda Business Center), robust and increasing cash flows of Vardarac’s borrower, which serve as a reliable source of repayment for the company’s  loans and credit facilities, and the strong credit profile of Vardarac’s parent group that has willingness and capacity to provide financial and organizational support to the company.

The rating is constrained by Russia’s adverse macroeconomic and geopolitical situation that may cause the main borrower’s risks of the leased space decrease and operating performance deterioration to materialize.