OREANDA-NEWS. National Rating Agency has affirmed its national scale 'A' credit rating on Chernoerkovskoe JSC. The company's first-time credit rating of 'A' from NRA was assigned on Apr. 22, 2013 and affirmed on Aug. 14, 2014.

The affirmation reflects the company's robust financial profile, moderate debt level and fairly high balance-sheet liquidity and profitability indicators. The company's key financial performance indicators were on on upward trajectory in 3Q 2015. NRA also notes Chernoerkovskoe JSC's affiliation with AFG National Group, which demonstrates a good financial performance, according to its consolidated financials for the past 12 months.

In NRA's opinion, AFG National Group has good growth prospects, as its production ans sales metrics are on a growth path, the operating environment for agricultural producers is favourable, and the Group's sizable investments in capacity expansion and produce diversification are already paying back. All this has been factored in the Positive rating outlook.

Chernoerkovskoe JSC was founded in Krasdodar Krai in 2002. Currently, its principal (95%) business is crop cultivation, including rice growing. The company is also engaged in storing and processing of different crops. Chernoerkovskoe JSC is 65.66% owned by AFG National Group.