BBB Global Scale Rating of Creditworthiness Assigned to UNISTREAM

BBB global scale rating of credit worthiness was assigned to UNISTREAM, while the bank’s А+ national scale level was affirmed which means very high credit solvency level.

Expert RA Rating Agency (RAEX) assigned BBB global scale level of creditworthiness to UNISTREAM commercial bank which means acceptable long-term credit solvency level, stable outlook. Stable outlook means, this rating is highly probably to be kept in the mid-term. The bank’s national scale rating is left unchanged at A+ meaning very high credit solvency level, second sub-level, stable outlook. 

UNISTREAM today is the first payment system in Russia to which global scale rating of creditworthiness was assigned at BBB level. 
“Early in 2014, A+ national scale credit solvency level was assigned to UNISTREAM, and today we have been given a confirmation of a high degree of the system reliability according to international standards as well, commented CEO of UNISTREAM Kirill Palchun. The UNISTREAM business now means reliable long-term relations with our partners, wide international presence, new payment services, and state-or-the-art technology. 
The bank rating is supported by an acceptable level of capital adequacy (Н1 = 15.4% as of 01.07.14), high level of return on equity (during the period from 01.07.13 to 01.07.14, ROE amounted to 17.4%), and assets and liabilities balance by their maturities in the short-term and long-term time horizon (Н2 = 86,2%, Н3 = 100,3%, Н4 = 0% as of 01.07.14). Also the Agency gave positive assessment to the reliability of the main settlement bank of the UNISTREAM Money Transfer System (DEUTSCHE BANK TRUST COMPANY AMERICAS) and low concentration of asset-related heavy credit risk transactions (as of 01.07.14, the ratio of heavy credit risks to the assets minus loan loss provisions amounted to 9.2%).

The rating is restricted first of all by operational risks, related to storing and transporting of cash, and reputational risks, related to a big number of partners in the money transfer network (banks and banking payment agencies). “We also observe that Q1 was traditionally lossmaking for the bank due to the money transfer market seasonality (the loss before taxation in the first three months of 2014 amounted to Rb 54.2 mn), but following the results of the first half of the year, we can see a positive financial result shown by the company”, adds Stanislav Volkov, RAEX Bank Rating Director.

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