OREANDA-NEWS. National Rating Agency has affirmed its ‘AA-’ reliability rating on SOLID Management CJSC. The outlook for the rating is Stable. The company was assigned NRA’s first-time reliability rating of ‘A+’ on Dec. 12, 2006. The rating was raised to ‘AA-’ on Aug. 13, 2013 and affirmed at this level on Mar. 18, 2015.14.

The rating is underpinned by the company’s growing and highly liquid assets under management (AuM) and low investment risk. The rating also recognizes SOLID Management’s affiliation with a large financial group and its well-balanced investment policy.

Offsetting these strengths are the company’s low capitalization, which continues to decline due to the loss for the nine months ended Sep. 30, 2015 and the decreasing share of mutual funds in SOLID Management’s AuM in 2015. Also, in view of the considerable share of pension assets in the company’s total AuM, NRA expects that the extension of the so-called moratorium on OPS (obligatory pension saving) contributions beyond 2015 will constrain the growth of the company’s AuM and weigh on its financial result.

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While NRA has obtained information from sources it believes to be reliable, NRA does not guarantee that this information is perfectly correct, complete and accurate, as it does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives.