RAEX affirms Eurotorg’s credit rating and stable outlook
Eurotorg LLC (“Eurotorg” or the “Company”), the largest grocery retailer in Belarus, announces that on 15 May 2020 leading Russian ratings agency Expert RA (“RAEX”) has affirmed the Company’s credit rating at byA+ with a stable outlook.
The agency expects Eurotorg’s operating cash flow in 2020-2021 to be sufficient to fund its capex programme and maintain a faster pace of debt repayments. The rating is further supported by the Company’s comfortable liquidity position. Expert RA also noted the high quality of Eurotorg’s strategy, corporate governance and risk management, as well as the Company’s advanced disclosure practices.
The full Expert RA announcement can be found here.