OREANDA-NEWS. National Rating Agency has affirmed its 'AA-' credit rating on Baltic Leasing Company (BL).

The rating affirmation reflects the company's strong and stable market position, improving key performance indicators, extensive and diversified customer base, high-quality assets, good earnings capacity, strong profitability metrics and a reasonably close balance between its asset and liability maturities.

These strengths are offset by BL's lower growth momentum and possible medium-term flatlining of its key performance indicators. The rating is also constrained by the increased borrowing costs, which, in the context of the weaker economic outlook, including declining sales of commercial vehicles in Russia, may affect the company's performance.