S&P Global Ratings downgrades Eurotorg’s credit rating

Eurotorg LLC (“Eurotorg” or the “Company”), the largest grocery retailer in Belarus, announces that on 23 Maу 2022 international credit rating agency S&P Global Ratings (S&P) has lowered the Company’s rating to ‘СС‘ from ‘ССС’ with Negative Outlook as a result of the Belarus’s sovereign rating downgrade to ‘CC’.

The agency stated that rating action reflected the geopolitical and macroeconomic risks, which could directly affect Eurotorg’s capabilities to make timely debt payments to its creditors in the future..

The full S&P announcement can be found here.