OREANDA-NEWS. National Rating Agency has withdrawn its ‘RS3’ support rating on UK-based Dinosaur Merchant Bank Limited (DMBL) due to weakened credit quality of the supporting party and the latter’s inability to support the company’s credit rating. At the same time, NRA has lowered its national scale credit rating on DMBL to ‘BBB+’. The outlook is indefinite.

On June 7, 2015, the company was assigned NRA’s credit rating of ‘A’ (based on its support rating of ‘RS3’) and a stand-alone credit rating of ‘BBB+’.

The company’s credit rating was placed on NRA’s Watchlist immediately after the indefinite outlook assignment. This does not mean that the rating has been suspended, but indicates the likelihood of a near-term rating action, including the rating affirmation, downgrade by one or more notches, suspension or withdrawal or the outlook revision. NRA plans to get back to the rating update process as soon as the company’s 3Q 2015 performance data become available.

NRA’s analytical products, including ratings and the contents of this press release, are statements of NRA’s independent opinion as of the date they are expressed and not statements of fact or recommendations to make any investment decisions or conduct any stock market transactions. NRA is not responsible for any results obtained from the use of opinions and/or information contained in this press release.

While NRA has obtained information from sources it believes to be reliable, NRA does not guarantee that this information is perfectly correct, complete and accurate, as it does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives.