S&P affirms Eurotorg’s credit rating and positive outlook

Eurotorg LLC (“Eurotorg” or the “Company”), the largest grocery retailer in Belarus, notes that international ratings agency S&P Global Ratings (S&P) has affirmed the Company’s ‘B-/B’ ratings and the Positive Outlook on the ratings.

Eurotorg's leading position in Belarus' fragmented food retail market, its broad footprint across the country, and the cash-generative nature of its business support the Company’s creditworthiness, according to S&P.

“The positive outlook reflects our view that we could raise the ratings by one notch over the next 12 months if the company resumes earnings and cash flow generation growth,” the agency said.

Eurotorg also holds a Long-Term Issuer Default Rating of B with Stable Outlook from Fitch Ratings. This year the retailer 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.

S&P’s announcement can be found here.