23.11.2015, 22:46
MonArk Concern LLC Assigned 'A' Credit Rating
OREANDA-NEWS. National Rating Agency has assigned its national scale 'A' credit rating to MonArk Concern Limited Liability Company (MonArk). It is the first time that the company is assigned NRA's individual credit rating.
The rating is supported by MonArk's many-years' operating experience and strong position in the market for construction and mounting work (especially under government contracts) and development. Oth rating sdtrengths include the company's healthy financial profile and positive dynamics of its key performance indicators, as well as its ownership of assets with high market value, its diversified income base, good profitability metrics and strong liquidity position.
The rating is pressured by MonArk's ambitious investment programme involving large borrowings needed for the acquisition of land parcels for construction purposes (the potential increase of currently low debt may pressure MonArk's solvency and financial strength metrics). That said, NRA expects the company's debt to be reasonable, considering MonArk's comfortable debt maturity profile and the debt's long-term structure (with the last debt liability coming due in 2020).
NRA takes into account the construction sector's vulnarability to macroeconomic shocks. The latter may affect the value of MonArk's property construction projects and the Group's bottom-line results.
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