Moody's: OPIN view negative

Moody's Investors Service said it changed the outlook to negative from stable for the B1 corporate family rating of JSC OPIN.

The change was prompted by increased uncertainty about the impact of the turmoil in the financial markets on the evolution of the general economic environment in Russia, coupled with exposure to the highly cyclical real estate development business, according to the agency.

The B1 rating is based on the company's status specializing in residential development, vertical integration through its purchase of Viceroy Homes, low leverage and strong real estate market, the agency said.

Ratings remain constrained by risks associated with a strongly growing company, narrow geographic diversification, execution risk and uncertainties of the current operating environment in the Russian real estate industry, Moody's said.

© 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.