23.06.2016, 14:29
NRA's Credit Rating on Pharmacy Chain 36.6 Affirmed
OREANDA-NEWS. National Rating Agency has affirmed its ‘AA-’ credit rating on Pharmacy Chain 36.6 PJSC (Chain 36.6). The outlook for the rating is Stable. The company was assigned NRA's first-time credit rating of 'A' on Feb. 15, 2012. The latest rating action on Chain 36.6 (credit rating upgrade to 'AA-' with a stable outlook) was on June 16, 2015.
Chain 36.6 is Russia's top pharmaceutical retailer, pursuing a strategy aimed at broadening its market base through both mergers and organic growth. In 2H 2015, Chain 36.6 kept growing its business and accelerated the establishment of JDP LLC, a branded distributor. The opportunity of direct purchases from pharmaceuticals manufacturers should enable the Group to improve its profitability. 2016 saw a merger between Chain 36.6 and Alliance Healthcare Russia. In addition, Chain 36.6 is planning to close a merger transaction with A5 Group in 2016 and thereby strengthen its market position. Currently, the 36.6/A5 merged group operates 1,693 sales outlets, that is, has the largest distribution network in the industry, excluding only the network belonging to the Independent Pharmacies Association (ASNA). According to expert estimates, the merged group is now the largest pharmaceutical retailer in Russia with an almost 5% market share in 2015.
Chain 36.6's corporate website: www.pharmacychain366.ru
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.
Chain 36.6 is Russia's top pharmaceutical retailer, pursuing a strategy aimed at broadening its market base through both mergers and organic growth. In 2H 2015, Chain 36.6 kept growing its business and accelerated the establishment of JDP LLC, a branded distributor. The opportunity of direct purchases from pharmaceuticals manufacturers should enable the Group to improve its profitability. 2016 saw a merger between Chain 36.6 and Alliance Healthcare Russia. In addition, Chain 36.6 is planning to close a merger transaction with A5 Group in 2016 and thereby strengthen its market position. Currently, the 36.6/A5 merged group operates 1,693 sales outlets, that is, has the largest distribution network in the industry, excluding only the network belonging to the Independent Pharmacies Association (ASNA). According to expert estimates, the merged group is now the largest pharmaceutical retailer in Russia with an almost 5% market share in 2015.
Chain 36.6's corporate website: www.pharmacychain366.ru
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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