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NRA affirms credit rating of Prime Finance bonds - AK&M

September 24, 2015 IA AK&M
On September 23, 2015, Russia's National Rating Agency affirmed the national scale credit rating of the debut bonds issued by Prime Finance LLC at 'AA-', with a negative outlook, the rating agency informed.

The rating is supported by non-public guarantees from beneficiary owners, the high quality of the issuer's investments and the profitable operations.

The rating is constrained by the high macroeconomic risks affecting the credit quality of Russian issuers' securities as well as by market-specific and liquidity risks.

Prime Finance LLC (RFD LLC until 2013) was established on April 14, 2008. On July 11, 2013, Russia's Federal Financial Markets Service registered bond issue 1 of Prime Finance LLC placed by public offering. The bond issue was completely placed on CJSC MICEX Stock Exchange on July 23, 2013 at par value. Khanty-Mansiysk bank Otkritie (previous name: Otkritie Bank) was the lead manager. The issue amounting to RUB 11.75 billion matures in 3 years. The six-month coupon on the issue is set equal to 12% p.a., no redemption offer is assumed.

The issuer's activity is profitable. Its net profit for H1 2015 was RUB 1.6 million; in 2014, the issuer earned RUB 2.1 million in profit.
  • Full name
    Prime Finance Limited Liability Company
  • Registration country
    Russia
  • Industry
    Financial institutions