S&P Confirms Veles Capital Credit Rating At The Level BB-/B With Stable Outlook

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The international rating agency Standard & Poor’s confirmed credit rating of Veles Capital at the level BB-/B with stable outlook.

S&P rating has been assigned to Veles Capital for the first time in 2006. During these years the company rating had positive dynamics and rose from CCC/C  to BB-/B level.

“We expect that Veles can maintain its leading position as the largest broker in Russia's corporate bonds market and a significant player in Russian government bonds”, noted in S&P press-release.” We believe that Veles Capital will benefit from strengthening regulatory oversight over securities companies in Russia”.

Veles Capital is one of the oldest investment companies in Russia. It has been founded in 1995 and managed by Dmitry Bugaenko and Alexei Gnedovsky. Veles Capital is one of the few Russian investment companies obtaining an international credit rating. The company has also a national credit rating by the Expert RA agency at the level of RuA+ with a stable outlook.

By the end of 2019, the company entered top-10 of Moscow Exchange operators by client deals turnover and also top-3 by corporate bonds and OFZ.