OREANDA-NEWS. National Rating Agency has withdrawn its 'AA-' credit rating on Baltic Leasing LLC (BL) due to expiry of the contract and the company's decision to stop participating in the rating process. The company is assigned an exit rating of 'AA-'. NRA's first-time credit rating of 'AA-'was assigned to BL on Feb. 7, 2012 and was re-affirmed each consecutive year.

Founded in St.-Petersburg in 1999, BL is part of the Baltic Leasing Group that also includes Baltic Leasing OJSC. Currently, BL specializes in the leasing of cars and trucks, various equipment and special-purpose machines. The company's distribution network includes 60 branches and back-up offices across Russia.

BC is one of the Russian leasing market leaders by the size of new business and leasingportfolio. Its lease balances totaled Rub 30.6 bn as of Oct. 1, 2015. During January-September 2015, the company signed more that 5,800 agreements for the leasing of motor vehicles, various equipment and machines. Its capital totaled RUB 2.6 bn as of Sep. 30, 2015, a 36% increase compared with a year earlier. BL's net income for 3Q 015 was RUB 572 million, a 75% increase year-on-year.