Expert RA

Expert RA has rated Moscow leasing company

September 29, 2007

The Expert RA rating agency has assigned the B++ credibility rating (admissible credibility rating with outlooks for sustainability) to a group of companies Moscow leasing company.

"Good diversification of the leasing portfolio, reliable indicators of financial independence, high transparency level, good credit history contribute to the company credibility, — says Roman Romanovsky, Expert RA analyst from a department of ratings of financial institutions. — The company diversifies its financial activity, in particular, gives commercial credits to its lessees".

As to Moscow leasing company risks, the agency analysts underlined structural instability of financial sources, low indicators of the assets turnover, insufficient profitability of own funds. The Expert RA analysts also note, that considering good ability to pay, liquidity and other indicators of activity the company may be rated higher following the results of 2007.

Moscow leasing company operates in Moscow, St.-Petersburg, Central, Volga and North-West federal districts. The company has been present at the Russian leasing market since 1993 and claims to be the first leasing company, registered in the capital of the RF.

According to Expert RA, in the 2006 ranking of the largest RF leasing companies Moscow leasing company holds position 53 as to the new business volume. The company new business volume in 2006 reached 1 455.4 mln rubles, leasing portfolio — 2 454.3 mln rubles, received leasing payments — 768.9 mln rubles.

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