Sberbank CIB News

Troika Dialog Assigned AAA Rating by National Rating Agency (maximum reliability)

24.02.2011

The National Rating Agency has assigned CJSC Troika Dialog Investment Company (Moscow) individual reliability rating AAA (maximum reliability).

Contributing factors to CJSC Troika Dialog Investment Companys AAA rating included the companys influential market presence and significant market share across practically all the companys businesses. According to Maxim Vasin, Senior Analyst at National Ratings Agency, Troika Dialog enjoys the prestigious status of being one of the longstanding leaders of Russias investment market, having a broad product line, stable financial indicators, and a strong presence in the high-margin investment banking and financial services segments. The company maintains significant levels of core funds under a low debt burden; has strong liquidity reserves; uses advanced modern technologies in corporate management and risk management; employs the most highly-qualified managers and analysts. Over years of work on the market, the company has created a strong and famous brand; its reputation, scale and quality of services make it possible to attract and retain the biggest Russian and foreign clients.

According to Jacques Der Megreditchian, CBO at Troika Dialog, Were pleased that our companys high caliber of reliability and service quality has once again been recognized by a leading independent ratings agency. The AAA rating was assigned to Troika in 2003 and has been reconfirmed many times since then, which indicates a high level of trust placed in us by Russian experts.

Troika Dialogs key clients include some of Russias largest companies in different economic sectors. In 2010 the company was the second-largest organizer of bond issues on the Russian market, organizing 41 debt securities sales for 23 issuers for a total value of more than R130 bln (including allocation); entered the top-ten largest organizers of IPOs and SPOs by Russian companies, issuing equities with total value of more than R25 bln (data compiled by Dealogic).

In addition, NRA once again reconfirmed the market-leading status of the Research team, which has been repeatedly recognized as the markets best. In particular, in 2010 Troika Dialogs Research team outperformed the Russian market by earning first place in respected rankings by Thomson Reuters Extel and Institutional Investor.

Over the past year, the total value of the companys deals with securities has increased by more than 40%, as the company has continued to outperform in rankings of Russian investment companies according to operational performance and business volumes.

National Rating Agency (NRA) has provided ratings of financial market participants since 2000. The Agencys ratings are currently reported by over 500 companies in various economic sectors, including banks, investment, management and insurance companies, non-banking credit organizations, real-sector businesses, issuers, pension funds and registrars. NRAs ratings are officially recognized by the Russian financial market government regulators, as well as by professional organizations and associations, in particular by the Central bank of the Russian Federation, Vnesheconombank, the FFMS, ROSNANO, The Russian Federation Ministry of Agricultural Affairs, the Agency of Mortgage and Residential Crediting, the RTS and MICEX stock exchanges, NAUFOR, the National Fund Association, the National Managers League, and the Russian Banks Association. In September 2010 NRA successfully completed registration with the Russian Federation Ministry of Finances, and as a result the Agency was included in the register of accredited rating agencies. Official recognition of the work of rating agencies is a means of stabilizing and increasing transparency in the Russian financial system, as well as protecting the interests of Russian business on international financial markets. Since 2008 NRA has followed the Codex of professional ethics of Russian rating agencies confirmed by the SRO NFA Council.

The Agencys analytical materials are regularly published by such leading federal media as Vedomosti, Kommersant, RBC Daily, RBC-Rating, Financial Izvestia, Profile, Delovoi Peterburg, Popular Finances, Banki.ru, BFM.ru and many others.