OREANDA-NEWS. National Rating Agency has withdrawn its credit rating on the Cyprus-based CHERRY LANES TRADING LIMITED (CLTL). No exit rating is assigned to the company in view of its forthcoming liquidation. CLTL‘s first-time individual credit rating of ‘A’ was assigned on Mar. 5, 2014. NRA affirmed the rating on May 20, 2015, taking into account the support rating of ‘RS4’ and CLTL’s stand-alone credit rating is ‘BBB-’.

Incorporated in Cyprus in April 2010, CLTL invested in equity securities of Russian companies, transacted in financial assets and acted as a financial intermediary. IN 2014-14, the company focused on assets traded in the Russian stock market. The company used REPO transactions and payment deferment under its sales agreements to fund its operations. As of today, CLTL’s obligations vis-?-vis its creditors are fully performed.

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