OREANDA-NEWS. On 22 August 2008 X5 Retail Group N.V., Russia's largest retailer in terms of sales (LSE ticker: “FIVE”), announced that Moody’s has affirmed its corporate family rating for the Company at B1.  Outlook was changed to stable. Moody’s Interfax Rating Agency has also affirmed the Company’s A1.ru national scale rating.

As stated in the rating agency’s press-release, “Moody’s recognizes the Company’s strong operating performance, its high organic and acquisition-related growth, ability of managing acquisitions, and a continuous strengthening of its leading positions in the Russian retail market…”  Moody’s also noted that it has “a positive view with regard to X5’s growth strategy”. 

The agency explained that the change in outlook to stable from positive was mainly prompted by its view that “the Company’s rapid growth strategy and respective large investments will postpone its de-leveraging…”