OREANDA-NEWS. National Rating Agency has withdrawn its credit rating on Zarechie LLC due to the company's decision to spot participating in the rating process. Zarechie is assigned NRA's national scale exit rating of 'A'. The company' s first-time individual credit rating, falling into the “Holding and Financial Companies” section of NRA's rating list, was assigned on Dec. 21, 2011 and was re-affirmed at the initial level each consecutive year.

The rating affirmation reflects the company's affiliation with one of Russia's largest investment groups, its ownership of assets with high market value, exceeding their book value, and improving operating performance. The long-term tenure of its rental agreements and the strong credit quality of its business-center tenants ensure a long-term stability of Zarechie's cash flows.

The rating is constrained by Zarechie's negative financial result, weighing on the equity size and growth rate. In addition, NRA notes the weakening macroeconomic fundamentals, affecting the commercial property market, as well as the market trends that may bring down the company's property value or rental flows, weaken its long-term growth prospects and restrict its access to the capital markets.

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