OREANDA-NEWS. National Rating Agency has withdrawn its credit rating on OLMA IF OJSC due to expiry of the contract. The company is assigned an exit rating of ‘A-’. The company was assigned NRA’s first-time credit rating of ‘A-’ on Dec. 23, 2014.

The company’s principle business line is the leasing out of its properties. OLMA has a title to commercial premises at 7/ 1 Maly Karetny per., Moscow, with a total floor area of around 1,400 sq. m. The company does not fall, neither legally nor formally, within the consolidation scope of OLMA IF Group, but its operational activity is considerably influenced by the group. For instance, the company may take part in the reallocation of funds under financial arrangements and get support from the group in case of distress. IN addition, the OLMA IF Group member companies are the main tenants of the company’s premises, which h fact mitigates the risk of the main tenant departure.

The company’s assets and eqity totaled RUB 9.3 million and RUB 9 million respectively as of Sep. 30, 2015. Its 3Q 2015 revenue declined year-on-year (minus 8%), while its net profit fell by 32%. We note that the company’s financial result for 2014 was positive (RUB 12.8 million).

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