S&P rates TransFin-M B

Standard & Poor’s said it assigned a B long-term and C short-term counterparty credit ratings to OJSC TransFin-M, along with a ruBBB+ Russia national scale rating.

The outlook is negative.

The ratings factor in the structurally high economic and industry risks faced by leasing companies operating in Russia, S&P said.

The ratings also consider the B anchor rating assigned to Russian non-bank financial institutions, the agency said, as well as the company’s mono-line business model.

The company is prone to cyclical fluctuations of the domestic economy and sector concentrations, S&P said.

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