Mikhail Menn holds a meeting with the Standard & Poor’s representatives

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Mikhail Menn holds a meeting with the Standard & Poor’s representatives
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On the 28th of April, Russian Minister of Construction, Housing and Utilities, Mikhail Menn, met with the representatives of the Standard & Poor’s financial services company in order to discuss assessment of “AIZhK” JSC and its credit rating.

This international agency has been assigning a credit rating to the “Agency for mortgage housing crediting”, abbreviated to “AIZhK” JSC, within the course of 7 years. For this period of time,Standard & Poor’s has been assessing it as the highest one, the Ministry press office told Construction.RU.

The government support provides an additional grade in a rating for “AIZhK”. In this connection, Mikhail Menn told his dialogue partners that on a basis of the “Agency for mortgage housing crediting” JSC the Unified Institute for Housing Development had been established in Russia. At that, the company’s credit rating have been confirmed.

However, this year the credit rating needs to be specified due to adoption of the “AIZhK” development strategy and establishment of new performance targets of the Institute’s activity.

Mikhail Menn has singled out 3 main ways, in which the Institute’s activity is to be evaluated: development of mortgage housing credit, with creation of new credit product – mortgage securities, providing the developers with plots of land through the Russian Housing Development Foundation, as well as the rental market development.

Answering the questions of the Standard & Poor’s representatives, the Minister has confirmed that the privatization of “AIZhK” JSCisn’t on the agenda, the reduction of the state’s share in the capital of the Unified Institute for Housing Development isn’t under consideration either.