S&P rates RESO-Leasing BB-

Standard & Poor’s said it assigned BB- long-term and B short-term counterparty credit ratings to RESO-Leasing, along with a ruAA- Russia national scale rating.

The outlook is stable.

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

The ratings also reflect the B anchor that is assigned to Russian non-bank financial institutions, as well as the company’s moderate business position, moderate risk position and adequate funding and liquidity, the agency said.

The company’s monoline business model is prone to cyclical fluctuations of the domestic economy, S&P added.

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