OREANDA-NEWS. National Rating Agency has affirmed its national scale ‘A’ credit rating on AF-Group Trade Company. The outlook for the rating is Positive. The company's first-time credit rating of 'A' from NRA was assigned on Aug. 14, 2014.

The affirmation reflects the robust financial profile of AFG National Group, to which the rated entity is a subsidiary. The Group's financial ratios, including capital/ liqudity adequacy and profitability metrics, reached high values several times and have been on an upward trajectory, according to the Group's consolidated financials. The Group's total debt is viewed as manageable, while its debt-to-equity and debt-to-EBITDA ratios are declining. NRA also notes AF-Group Trade Company's fair stand-alone financial profile, its limited autonomy and hign exposure to related parties, as evidenced by the related parties' share in its assets and liabilities, In NRA's opinion, AFG National Group has good growth prospects, considering the Group's improving production and sales metrics, favourable operating environment for agricultural producers, and the Group's sizable investments in capacity expansion and produce diversification, which are already paying back. All this has been factored in the Positive rating outlook.

The rating is constrained by the 'A' credit rating of AFG National LLC, the core operating company of the Group, which NRA has affirmed with a positive outlook.

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