Avenditors Investments Ltd Assigned National Scale ‘A’ Credit Rating
The rating reflects AIL’s good-quality and liquid assets, whose market value is far above the current liabilities, its sizeable business, good operational and financial performance in 2014 and the benefits of being part of a strong and financially stable group that grants access to its resources. NRA views the credit quality of AIL’s debtors as strong, and the sources of income needed to cover the company’s current liabilities as adequate. The refinancing risk is assessed as fairly low, given AIL’s partner relationship with its lenders and its favourable credit history.
These strengths are partially offset by the volatility of AIL’s revenue and financial results (stemming from the fact that the company’s business and revenue are heavily reliant on income from securities transactions), and the entirely short-term debt maturity profile, reflecting the specifics of AIL’s business.
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