OREANDA-NEWS. National Rating Agency has affirmed its ‘AA-’ national scale credit rating on Archer Finance LLC's (OOO ‘Archer Finance’) series 01 bonds (Reg. No. 4-01-36438-R, ISIN: RU000A0JUJW8) and assigned a negative rating outlook.

The rating is underpinned by the support of beneficial owners, high quality and adequate diversification of the portfolio, low operational and credit risks of the issuer, and currency hedging. Credit quality of the bonds strengthens due to credit enhancement in the form of a guarantee and support from the company's strategic partners.

The rating is constrained by the macroeconomic risks and state of the market, which may lower portfolio quality in the long term. Long duration of bonds and absence of early redemption options expose the bondholders to a long-term investment risk. Moreover, the maturity of portfolio instruments exceeds the maturity of the bond issue of Archer Finance LLC, therefore the issuer is exposed to additional influence of market risks. The negative rating outlook is also based on the Agency's expectations of further increasing macroeconomic and market risks.

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