Credit rating rationale. The issue represents senior unsecured debt of Leasing Company Simple Solutions LLC (hereinafter — the Company). Due to the absence of either structural or contractual subordination of the issue, ACRA regards it pari passu with other existing and future unsecured and unsubordinated debt obligations of the Company. According to the ACRA methodology, the repayment level of unsecured debt belongs to category II; therefore, the credit rating of the issue is equivalent to that of Leasing Company Simple Solutions LLC, i.e. BBB+(RU).
The credit rating of the Company is based on the Company’s moderate business profile, strong capital adequacy and risk profile, and satisfactory liquidity and funding assessment.
Key issue properties
| Issuer | Leasing Company Simple Solutions LLC |
| Issuer’s credit rating | BBB+(RU), outlook Stable |
| Actual issuer | Leasing Company Simple Solutions LLC |
| Type of security | Certified exchange-traded interest-bearing non-convertible unregistered bond subject to mandatory deposit 001P-03 series |
| Issue volume | RUB 400 mln |
| ISIN | RU000A100Q35 |
| Placement start date | August 13, 2019 |
| Final placement date | February 11, 2020 |
| Maturity date | July 07, 2026 |
Regulatory disclosure
The credit rating has been assigned under the national scale for the Russian Federation based on the Methodology for Assigning Credit Ratings to Individual Issues of Financial Instruments under the National Scale for the Russian Federation and the Key Concepts Used by Analytical Credit Rating Agency within the Scope of Its Rating Activities.
A credit rating has been assigned to the 001P-03 series (ISIN RU000A100Q35) bond of Leasing Company Simple Solutions LLC for the first time. The credit rating is expected to be revised within one year following the publication date of this press release.
The assigned credit rating is based on the data provided by Leasing Company Simple Solutions LLC, information from publicly available sources, and ACRA’s own databases. The credit rating is solicited, and Leasing Company Simple Solutions LLC participated in its assignment.
No material discrepancies between the provided information and the data officially disclosed by Leasing Company Simple Solutions LLC in its financial statements have been discovered.
ACRA provided no additional services to Leasing Company Simple Solutions LLC. No conflicts of interest were discovered in the course of credit rating assignment.
