OREANDA-NEWS. National Rating Agency has raised its national scale credit rating on Pioneer Group (GK ‘Pioner’) to ‘A+’. The ‘BBB+’ national scale credit rating had been originally assigned on October 22, 2012, then annually raised, and on September 26, 2014, the ‘A’ rating with a positive outlook was assigned.

The Agency has implemented a positive outlook on the company's rating. The rating was raised due to Pioneer Group's business growth, positive dynamics of the main indicators of the company's performance, and consistent implementation of the development strategy. Among other positive factors supporting the current rating, the Agency highlights Pioneer Group's competitive advantages, strong position in its market segment, and years of experience. The Agency positively evaluates successful completion of the bond offering in April 2015, as well as getting a 12.4 billion rubles loan from Sberbank of Russia for five years to finance the LIFE-Botanichesky Sad (Botanical Garden) housing complex project. The rating reflects audited consolidated financial statements of the company, as well as its overall transparency. The financial situation is stable, so the company is able to meet its obligations on time and in full.

However, the Agency notes macroeconomic risks faced by Pioneer Group, which may adversely affect real estate prices and, therefore, financial performance of the Group.

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.