OREANDA-NEWS. National Rating Agency has assigned its national scale ‘A’ credit rating to Tamozhennaya Karta (“Customs Card”) LLC TK). The outlook for the rating is Stable. It is the first time that the company is rated by NRA.

The credit rating is supported by TK’s leading position in its market, its stable operational performance metrics and above-market-average financial strength. NRA also notes the company’s well-diversified customer base and ability to develop and scale up its business without the use of borrowings, and finance necessary investments with internally generated cash flow.

The rating is constrained by the company’s practice to invest borrowed funds into debt instruments, entailing a considerable credit risk concentration and high leverage. That said, the quality of assets, in which TK invests is assessed as reasonable, and the leverage is manageable.

NRA’s analytical products, including ratings and the contents of this press release, are statements of NRA’s independent opinion as of the date they are expressed and not statements of fact or recommendations to make any investment decisions or conduct any stock market transactions. NRA is not responsible for any results obtained from the use of opinions and/or information contained in this press release.

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.