S&P rates VKM-Leasing

Standard & Poor's said it assigned its CCC+/C long- and short-term counterparty credit ratings to VKM-Leasing Co.

At the same time, the agency said it assigned its BB(ru) Russian national-scale rating to the entity.

The outlook is stable.

"The ratings on VKM-Leasing are constrained by its small size and limited franchise, its high single-name concentrations on both sides of the balance sheet and its weak funding profile," said S&P credit analyst Eugene Tarzimanov.

"positive rating factors include the company's close relationship with one of the largest freight rail car producers in Russia and good quality collateral in respect of its leasing business."

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