OREANDA-NEWS. 'Expert RA' rating agency assigned 'Progress-Capital' management company reliability and service quality rating B++, which means acceptable reliability and service quality. The outlook is stable. The stable outlook means high probability of maintaining the rating in the mid-term.

Low infrastructure risks and high growth rates for assets in management in 1H2013 have a positive impact on 'Progress-Capital' management company rating.

The Agency's analysts highlighted poor investment process and risk management arrangements, low asset management results and capital inadequacy in relation to payments as the rating-restraining factors. The narrow customer base, loss in 2011 and 2012, the insignificant market experience, absence of membership in a self-regulatory organization, low information transparency and poor strategic management quality were also typical of the Company.