NRA: ORION TRADING LLC Assigned Credit Rating Of ‘A’ On National Scale
The assigned rating reflects the company’s positive operating performance dynamics and persistent revenue generation during the period under review. We also note the equity increase and the growing share of equity in ORION TRADING’s aggregate financing mix, as well as the company’s good liquidity position and strategic partnership with one of Russia’s largest financial groups with interest in the company’s development and ability to provide extraordinary support.
The rating is constrained by the revenue and financial performance volatility, associated with the company’s narrow income base with a high share of revenue coming from securities trading, as well as ORION TRADING’s high debt burden and entirely short-term debt associated with its business specifics. At the same time, the sources of income the company needs to meet its current debt service obligations are adequate, according to provided documents, and the refinancing risk is low, if we take into account ORION TRADING’s partnership relations with a number of top commercial banks and its positive credit history.
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