Fitch: AHML bonds BBB-

Fitch Ratings said it assigned long-term foreign- and local-currency issuer default ratings of BBB- and short-term foreign-currency issuer default ratings of F3 to Agency for Housing Mortgage Lending (AHML), along with a senior unsecured debt rating of BBB-.

The outlook is stable.

The ratings are equalized with the Russian sovereign’s ratings, reflecting its 100% state ownership and important role in the government’s housing policy, Fitch explained.

The ratings also consider in the company’s unique status as state development institution in the housing sector, its tight control by the sovereign and state guarantees over a material share of the agency’s domestic bonds, the agency said.

The agency is listed as a strategic enterprise, immune from privatization and protected from bankruptcy, Fitch said.

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