OREANDA-NEWS. National Rating Agency has raised its national scale credit rating on Tushino 2018 JSC to 'A+'. The company's business focus on direct asset ownership and management/ financing of an investment project determines the rating inclusion in the "Holding and Financial Companies" section of NRA's rating list.

The rating upgrade reflects the company's stable financial position, growing capitalization, as well as the completion of the project's key stages, enabling properties sales to be commenced. The sizable project is financed by the company's shareholders, which renders Tushino 2018 debt-free and independent of creditors and financial risks. Additionally, the rating benefits from the company's transparent assets and ownership structure and its well-defined strategy, which includes a comprehensive business plan and a forward-looking project plan. The management team has a clear understanding of its work tasks and objectives and how to achieve them.

The rating remains constrained by risks inherent to long-term investment projects, such as possible failure to achieve schedule and budget targets, misestimation of future cash flows or protraction of the regulatory approval process. NRA note however, that the government's interest and involvement in implementing the "sports cluster" part of the project alleviates some of these risks.