Moody's gives OPIN B1

Moody's Investors Service said it assigned a corporate family rating of B1 to JSC OPIN.

At the same time, Moody's said it assigned an A2.ru national-scale credit rating to OPIN.

The outlook is stable.

According to the agency, the B1 corporate family rating for OPIN is based on: (i) the company's status as one of the top ten Russian companies specializing in residential development and, in particular, its strong market niche in gated communities in the Moscow regions, (ii) vertical integration through its purchase of Viceroy Homes, a Canadian manufacturer of partially prefabricated homes, which has reduced its construction and design risks and build costs, (iii) its success in maintaining leverage at low levels, thanks in part to generous shareholder support and (iv) the continuing strong real estate market conditions in Moscow for both residential and commercial property.

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