OREANDA-NEWS. RusRating has assigned a credit rating to OOO Sodeistviye (Moscow). The rating is "BB" on the international scale and "BBB" on the national scale, in both cases with a stable outlook.

The rating is based on the significant market value of the real estate assets that the Company is in the process of acquiring; a high anticipated operating margin on its business project; and solid business ties to the Peresvet development group.

Constraining factors include regulatory risks associated with the re-classification of buildings for residential use (and the resulting prospects for resale) and potential price risk on the sale of flats and suites.

OOO Sodeistviye is a private-sector Russian limited liability company set up in 2006 in which Vladimir Nikolayevich Siforov holds a 99% stake. The Company’s principal business is the development of residential and commercial real estate, but it also functions as a financial intermediary. Its current project involves the purchase of six residential hotels in Moscow for resale as private flats and suites. The expected return over a nine quarter period (27 months) is 25%.

At this time the Company’s principal asset is accounts receivable, while accounts payable make up the bulk of liabilities. Both largely reflect the deferred purchase and sale of land. As its hotel redevelopment project progresses shares in companies that hold real estate will come to dominate the balance sheet. The purchase will be financed by loans from a credit organisation in the VTB group.