OREANDA-NEWS. National Rating Agency has affirmed its national scale 'A' credit rating on Baltic Fertilizer Terminal LLC (BFT).

The rating reflects BFT's growing assets and favourable financial performance trends, its project plan step-by-step execution and affiliation with ICT Group, one of Russia's largest investment and production holding companies with a unique experience in building and operating industrial and infrastructure projects. The company can leverage on the group's resources and obtain parent support. NRA also notes the investment attractiveness of BFT's project and the high project management performance standards.

The rating is constrained by risks associated with the construction phase of the project and the concomitant investment requirements, combined with the lack of operating cash flow generation. In this situation, the maintenance of the current rating level will depend, as before, on whether the company's key operational and financial metrics are in line with the business plan target figures.