National Rating Agency increased O1 Properties credit rating to “AA” level
June 20, 2014 – National Rating Agency (NRA) has raised its credit ratings for O1 Properties investment company to “AA” level on the Russian national scale and “iBBB-“ level on the global scale. The ratings assigned within the “Holding and Financial Companies” section of the NRA’s rating list.
Among positive factors NRA’s experts noted further improvement of the company’s operational performance, expended project portfolio consisting of high quality projects, its growing equity and new partners (ICT Group and Goldman Sachs) who joined the company as shareholders, effective growth strategy, adequate debt load combined with good access to funding.
“The company is notable for its strong corporate governance practices. Its cash flows are stable enough, and profitability is robust. The company is exposed to moderate operational and markets risks,” said NRA’s rating increase report.
“In 2013, the project portfolio owned and managed by O1 Properties saw substantial growth; the company leased 45 792 sq. m of its office space net of renewal agreements. It more than doubled the company’s net rental income. We can see that the company’s conservative financial policy and clear-cut development strategy bring positive results that do not go unnoticed by analysts at rating agencies,” said Tomasz Zamiara, CFO of O1 Properties.
The full text of the report is available at NRА’s web site.