RusRating changes outlook on Tsentr Innovatsionnykh Reshenii credit rating
The change in outlook from “negative” to “stable” reflects cancellation of a planned bond issue, averting a large expected increase in the Company’s debt burden. The rating itself is unchanged at "B+" on the international scale and "BB+" on the national scale.
The rating is based on close business ties to a consulting group with substantial experience in the market for closed mutual investment funds plus the high market value of the Company’s assets.
Constraining factors include assets and liabilities highly concentrated by individual counterparty plus low profitability.
About the Company
Tsentr Innovatsionnykh Reshenii [trs. Innovative Solutions Centre LLC] is a private-sector Russian company that acts as a consultant and financial intermediary. It forms part of a consulting group with extensive experience in asset management, including operations with closed mutual investment funds. The Company works with financial institutions to acquire mortgage participation certificates, shares in closed mutual investment funds and other claims.
Assets consist mainly of accounts receivable, which reflect claims under loan contracts and contracts for the sale of investment shares. All assets are classified as working assets and their structure is quite fluid. All obligations are short-term and most take the form of accounts payable. The Company’s debt burden is judged low. Operating revenues are nil; income is generated from the purchase and sale of securities. Profitability is low. Liquidity is sufficient. Risk sensitivity is high.
Комментарии