The ‘B’ priority unsecured rating of company’s outstanding bonds and ‘RR4’ recovery rating have been confirmed.
“Confirmation of ratings demonstrates stable results of the company at Russian real estate market and stable dynamics of operational performance. Although a macroeconomic situation in Russia is difficult, the real estate market is improving, since reduction of the refinancing rate of the Central Bank has led to increase in volume of mortgage credits up to historical level”, as they state in the rating agency.
Fitch expects that company’s EBITDA and FFO adjusted leverage will remain at the same level in 2016–2019.
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