OREANDA-NEWS. National Rating Agency LLC has affirmed its 'BBB+' reliability rating on Piter Trust Investment Company CJSC (Piter Trust). On July 7, 2009, the company was assigned NRA's 'BB+' rating, which was raised to 'BBB-' on June 11, 2010 and to 'BBB+' on Oct. 1, 2013. The rating was affirmed at 'BBB+' on Dec. 16, 2014.

The rating affirmation is driven by the company's stable customer base, considerable stock market experience and its stable and competent management team. NRA views positively Piter Trust's portfolio turnover dynamics. The company's financial condition this year is assessed as stable, with key financial performance indicators staying at the last year's level or being a little bit higher (the liquidity position has somewhat improved, and the equity-to-total-assets ratio remained on the growth path), and its operations are profitable, as before.

The rating continues to be constrained by the company's low profitability and high customer base concentration. The fact that Piter Trust's owners do not have other large sources of revenue to support the company is also regarded as a rating constraint.