OREANDA-NEWS. March 30, 2011. Global rating agency Fitch Ratings has upgraded long-term foreign currency Issuer Default Rating (IDR) of OJSC LSR Group (LSE: LSRG; MICEX, RTS: LSRG) to 'B' from ‘B-’, reported the press-centre of LSR Group.

The Outlook is Stable.

Note to Editors:
OJSC LSR Group is a real estate development and building materials company founded in 1993 and operating in a number of complementary market segments. Its core business areas are production of building materials, real estate development and panel construction.
LSR Group's main operations are located in St. Petersburg, Moscow, Yekaterinburg and Ukraine.

In 2009, the sales revenues of LSR Group were RUB 51,024 million (IFRS).
LSR Group is a public company, with its GDRs traded on the London Stock Exchange and its ordinary shares traded on MICEX and RTS.