OREANDA-NEWS. RusRating has assigned a credit rating to RNKO Platezhny Tsentr (OOO). The rating is "BBB+" on the international scale and "AA+" on the national scale, in both cases with a stable outlook.

The rating is based on minimal credit risks, membership in an established IT group with a competitive advantage that has made it a market leader in Russia and the CIS, and the Company’s position as hub of a socially-significant payment system.

Constraining factors include systemic risks and a non-public ownership structure (with reference to the Company’s ultimate beneficiary owners).

About the Company

RNKO Platezhny Tsentr (OOO) [trs. Payment Centre Settlements Non-Bank Credit Organisation (LLC)] was set up in 1994 and belongs to one of Russia’s largest IT groups, GK Tsentr Finansovykh Tekhnologii [trs. Financial Technologies Centre Group of Companies] (TFT). The Company operates and acts as settlement centre for the Zolotaya Korona and Gorod payments systems. Its principal business is the provision of settlement services to corporate clients using the two above-mentioned systems, including interbank transactions. It also provides retail money transfer services independent of bank accounts.

Capital adequacy is high and capital quality is healthy. Liabilities consist of client resources earmarked for settlements. Loro accounts held for banks make up more than half the total; most funding originates with domestic clients and corporate current account balances make up roughly a quarter of liabilities. Settlements in progress also play an important role, reflecting the nature of the Company’s operations. On the asset side short-term deposits with the Central Bank account for more than two thirds of the balance sheet and serve to generate supplementary revenues. Most of remaining funds have been placed on account with a non-resident bank as backing for foreign currency payments, but the Company also holds a small portfolio of government securities. The credit quality of its assets is rated favourably overall and credit risks are low. Profitability is high. Risks to liquidity are low. Overall risk sensitivity is judged moderate.