Fitch affirms Eurotorg’s credit rating and stable outlook
Eurotorg LLC (“Eurotorg” or the “Company”), the largest grocery retailer in Belarus, notes that international ratings agency Fitch Ratings has affirmed the Company’s Long-Term Issuer Default Rating at ‘B’ with Stable Outlook.
The agency cited Eurotorg’s strong market position in Belarus’s food retail market, moderate leverage, and consistently positive free cash flow generation. Fitch also expects Eurotorg will be able to resume growth in like-for-like sales and stabilise its EBITDA margin over 2020-2023.
Eurotorg also holds a Corporate Credit Rating of ‘B-’ from Standard & Poors, and earlier in 2019 became the first non-Russian corporate to be assigned a credit rating by a Russian agency when RAEX assigned the Company an issuer rating of byA+ with a stable outlook.
Fitch’s announcement can be found here.