OREANDA-NEWS. September 25, 2015. National Rating Agency has affirmed its ‘AA-’ credit rating on Finstone LLC's (OOO ‘Finstone’) series 01 bonds (Reg. No. 4-01-36431-R, ISIN: RU000A0JUDX9) and retained the rating outlook as negative.

The rating is underpinned by the support of a beneficial owner – major real estate development group, the fairly high rating score of the investment project, which is partly financed with the bond issuance proceeds. The company demonstrates positive profitability. The Agency has also recognized meeting construction deadlines and minor running behind the sales target as significant positive aspects.

Weaknesses include the planned budget deficit for the implemented projects up until 2016, as well as the risks of implementation of real estate projects. Given the current macroeconomic environment, prices and demand for property and land are under the pressure.

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