S&P affirms Agency for Housing

Standard & Poor's said it removed from Creditwatch and affirmed its BBB long-term and A-3 short-term ratings on Agency for Housing Mortgage Lending OJSC after its review of the state's draft state strategy for developing the Russian mortgage market and the company's medium-term business plan.

The outlook is stable.

The agency said it also affirmed its ruAAA Russia national-scale rating.

"We raised its assessment of Agency for Housing's stand-alone credit profile to BB from BB- after the state government confirmed that it would continue its strong ongoing support for Agency for Housing in the form of guarantees and access to funding from state-owned financial institutions, and because of Agency for Housing's strong financial profile projected in the medium term," said S&P credit analyst

Felix Ejgel.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.