05.05.2016, 09:38
NRA's Credit Rating on Magnit PJSC Raised
OREANDA-NEWS. National Rating Agency has raised its national scale credit rating on Magnit PJSC (Magnit) to 'AAA'. The outlook for the rating is Stable. The company was assigned NRA's first-time credit rating of 'AA' on Feb. 15, 2011. The latest rating action on Magnit (its credit rating affirmation at 'AA+' with a positive outlook) was on July 16, 2015.
Magnit is a holding company for Magnit Group, the food and consumer goods retailer operating its own multi-format chain. It is consistently one of Russia's leading food retailers in terms of revenue and the number of stores. At year-end 2015, the Magnit chain comprised 12,089 stores (9,594 convenience stores, 219 hypermarkets, 155 'Magnit Family" stores and 2,121 druggeries) with a total retail area of 4,414 thousand square meters (up 23% compared with a year earlier). Magnit continues to expand geographically; at year-end 2015, its chain covered 2,361 localities in Russia.
NRA's analytical products, including ratings and the contents of this press release, are statements of NRA's independent opinion as of the date they are expressed and not statements of fact or recommendations to make any investment decisions or conduct any stock market transactions. NRA is not responsible for any results obtained from the use of opinions and/or information contained in this press release.
While NRA has obtained information from sources it believes to be reliable, NRA does not guarantee that this information is perfectly correct, complete and accurate, as it does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives.
Magnit is a holding company for Magnit Group, the food and consumer goods retailer operating its own multi-format chain. It is consistently one of Russia's leading food retailers in terms of revenue and the number of stores. At year-end 2015, the Magnit chain comprised 12,089 stores (9,594 convenience stores, 219 hypermarkets, 155 'Magnit Family" stores and 2,121 druggeries) with a total retail area of 4,414 thousand square meters (up 23% compared with a year earlier). Magnit continues to expand geographically; at year-end 2015, its chain covered 2,361 localities in Russia.
NRA's analytical products, including ratings and the contents of this press release, are statements of NRA's independent opinion as of the date they are expressed and not statements of fact or recommendations to make any investment decisions or conduct any stock market transactions. NRA is not responsible for any results obtained from the use of opinions and/or information contained in this press release.
While NRA has obtained information from sources it believes to be reliable, NRA does not guarantee that this information is perfectly correct, complete and accurate, as it does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives.
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