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MOSCOW, August 16. /TASS/. The Russian Analytical Credit Rating Agency (ACRA) assigned the first A(Ru) rating with the stable outlook to the largest national small arms manufacturer Kalashnikov Concern, the rating agency said on Wednesday.
The credit rating of Kalashnikov Concern "is based on its strong business profile, adequate corporate governance, high profitability, and strong liquidity," ACRA said. "The rating is further supported by a high strategic importance of the Company for the state. On the other hand, less-than-medium size of the Company, medium leverage and FCF [free cash flow - TASS] shortage restrict the credit rating," the rating agency said.
The exports share in Kalashnikov sales is up to 40%, the rating agency reported. "Sanctions raised against the Company in 2014 did not affect its creditworthiness, because the volume of exports to sanctioned countries has historically been insignificant," ACRA said.
Kalashnikov "has a complete and long-term portfolio of orders, and the utilization ratio of its manufacturing capacities is about 100%," the rating agency said.