OREANDA-NEWS. National Rating Agency has withdrawn its credit rating on Monolit Corporation LLC (Monolit) due to expiry of the contract for rating services. The company has been assigned an exit rating of 'BBB+'. NRA's first-time credit rating of 'A' was assigned to Monolit on Dec. 23, 2013.

Founded in August 2003 in Ufa, Monolit focuses on broker and dealer services. The company offers broker services to individuals and corporate entities, providing access to the stock, derivatives and FX sections of the Moscow Exchange. It is also engaged in deposit taking, trust asset management and securities proprietary trading.

Monolit's assets and equity totaled RUB 586.6 million and RUB 375.8 million respectively as of Sep. 30, 2015. Its earnings were falling during the year, while its net income stayed at the 2014 level. NRA notes a considerable decrease in the company's total turnover.