Roman Lokhov, BCS Global Markets
Moscow - BCS Global Markets, the Moscow Exchange based securities broker, has announced that core group entities BrokerCreditService (Cyprus) and BrokerCreditService Structured Products have been upgraded from B to B+.
S&P Global Ratings raised its long-term counterparty credit and also affirmed the 'B' short-term counterparty credit ratings due to an improved funding profile for the BCS Group. S&P said that its improved view was based on the higher reliance on equity, deposits, and notes issued under structured products in the funding mix rather than on short-term wholesale funding at the BCS entities. This is reflected in the stable funding ratio, which has improved to around 100% in 2016-2017 from 70% in 2013-2014
Roman Lokhov, CEO of BCS Global Markets, said: "At BCS, we have invested heavily in both people and platform and we are now beginning to reap the benefits with not just solid growth in profits but also with a level of stability that is now being recognised internationally."
The assessment is further supported by BCS's access to collateralised facilities from the Central Bank of Russia via its subsidiary bank if needed.