RAEX revokes Uralsib’s credit rating
25 August 2015 (13:12)
August 25, 2015. RAEX demoted Uralsib Leasing Company’s credit rating from A to B++ and revoked it because the company decided not to go on with it, the rating agency’s website states.
The rating was reconsidered because the company’s end owner, Bank Uralsib, can no longer support it financially on the same scale as before.
Besides, growing losses (from 244.9m RUR in the first half of 2014 up to 2.5bn RUR in the first half of 2015), poor quality of the leasing portfolio, and high foreign currency risks keep affecting the company’s solvency.
The rating was reconsidered because the company’s end owner, Bank Uralsib, can no longer support it financially on the same scale as before.
Besides, growing losses (from 244.9m RUR in the first half of 2014 up to 2.5bn RUR in the first half of 2015), poor quality of the leasing portfolio, and high foreign currency risks keep affecting the company’s solvency.
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