S&P affirms Eurotorg’s credit rating
Eurotorg LLC (“Eurotorg” or the “Company”), the largest grocery retailer in Belarus, announces that on 8 May 2020 international ratings agency S&P Global Ratings (S&P) has affirmed the Company’s ‘B-/B’ rating and changed the outlook to stable.
The agency expects Eurotorg to maintain its leading market position in Belarus, despite an expected deterioration of the macroeconomic situation, including depreciation of the Belarusian ruble. “We expect the group's positive free operating cash flow will remain sound, and that the group will maintain adequate liquidity,” S&P wrote.
The full S&P announcement can be found here.