OREANDA-NEWS. National Rating Agency has affirmed its national scale credit rating on NPK Engineering LLC (NPK) at 'A', taking into account the support rating of 'RS3', reflecting the probability of support that NPK can get from a large financial group.

NRA assess NPK's stand-alone credit profile at 'BBB+'. The company's rating falls into the "Holding and Financial Companies" section of NRA's rating list.

The rating is underpinned by NPK's consistently favourable business development trends, increasing revenue and operating income and stable order book. It also recognizes NPK's strong business partners, who can, if needed, assist the company in meeting its financial obligations, its high liquidity ratios and solid operating margin.

The rating is constrained by NPK's non-core business activities that involve high investment risks, its considerable debt burden and low equity-to-assets ratio. The rating also factors in the group's consolidated losses.