OREANDA-NEWS. National Rating Agency has lowered its national scale credit rating on Reserve Trust Company CJSC (RTC) to 'C+'. The outlook for the rating is Indefinite. NRA's first-time credit rating of 'BBB+' was assigned to RTC on May 20, 2012 and re-affirmed each consecutive year (the latest affirmation date is Oct. 7, 2015). On Jan. 21, 2016, NRA placed RTC on its Watchlist with indefinite implications. The company's credit rating has been under review from the time of its Watchlist placement.

Continued uncertainties around the changes in RTC's ownership structure and the absence of up-to-date information regarding the structure of the company's assets tat has been used by the Rating Agency as a basis for the assessment of RTC's credit standing, financial policy and corporate governance, make it difficult for NRA to make a reliable assessment of RTC's ability to perform its obligations (currently having a "Technical default" status) in full and in a timely manner. On Jan. 6, 2016 the company technically defaulted on its bond's coupon payment of RUB 685.85 million and a pull option on its RUB 4.47 bn Series 03 bond.

RTC offers a full range of project consulting and management services, from project identification to delivery. Currently, it is involved in a number of investment projects, providing their financing through debt (bond) placements and equity investment in project development companies. In this way, RTC attracts professional investors' funds for long-term investments, acting not only as an intermediary, but also as a controller and a developer.