EUROTORG BECOMES FIRST NON-RUSSIAN CORPORATE TO GAIN RUSSIAN CREDIT RATING, EXPECTED RUB BOND RATED RuA– BY RAEX
Eurotorg (the “Company”), the largest food retailer in Belarus, announces that leading Russian ratings agency Expert RA (“RAEX”) has assigned the Company’s expected RUB-denominated bond a rating of RuA–. The outlook on the rating is stable.
Eurotorg thus becomes the first non-Russian corporate to be assigned a credit rating by a Russian credit ratings agency. RAEX also assigned the Company an issuer rating of byA+ with a stable outlook.
Andrey Zubkou, CEO of Eurotorg, said:
"Eurotorg is continuing to lead the way for Belarusian companies in international capital markets, following on from our path-breaking successful Eurobond issuance. As part of our strategic goal of optimising leverage, we are always looking for opportunities to diversity our funding profile and lengthen the tenor of our debt.
"We are delighted to be the first Belarusian corporate to be rated by Russia's leading credit ratings agency. Having a strong rating from RAEX opens up opportunities for us to tap a new and attractive source of funding in the Russian market."
RAEX’s announcement regarding the rating of Eurotorg’s expected bond can be found here.
The agency’s announcement of Eurotorg’s issuer rating can be found here.