OREANDA-NEWS. National Rating Agency has affirmed its national scale ‘A+’ credit rating on Kirov Regional Mortgage Corporation OJSC (KRMC).

The affirmation of KRMC's rating reflects our opinion that the company plays an important social role in its home region and is strongly supported by the regional government. 

Deteriorating macroeconomic conditions have negatively impacted mortgage loan issuance following a dramatic change in the market situation in the second half of 2014 . The company expects the situation to improve in April-May thanks to the government subsidies lowering interest rates on mortgage loans. In this context, we note that the company has not encountered any difficulties in the area of construction investment: its current projects are still ongoing and plans have not changed.