3rd Jul 2012 14:16
S&P confirms HMS' corporate rating at "BB-"
Moscow, Russia - HMS Group (LSE: HMSG) today announces that Standard & Poor's Ratings Services confirmed the long-term corporate rating of the company at "BB-" with "Stable" outlook on June 29, 2012.
According to the agency, the rating reflects its view that the Group should continue benefiting from the currently healthy market fundamentals for pumps and flow control solutions in Russia. S&P believes that HMS Group will be able to maintain its EBITDA margins in the mid-teen level and manage the order backlog successfully.
Initially S&P assigned the HMS Group corporate rating of "BB-"with "Stable" outlook in June 2011.
Responding to S&P's comments, Chief Financial Officer, First Deputy General Director and Co-founder of HMS Group, Kirill Molchanov said: 'We are pleased to have maintained our rating, which serves as another proof of the Group`s sustainable development. It is the impartial appraisal of HMS` ability to build up a healthy backlog and appreciation of our consistent performance in the current adverse economic climate."
For more information, please contact:
Investor Relations: Inna Kelekhsaeva, Deputy Head of Investor RelationsPhone: +7 (495) 730-6601 x 1318, [email protected]
Media Relations: Nozima Karimova, Head of Press ServicePhone: +7 (495) 730-6610, [email protected]
HMS Group is the leading pump manufacturer and provider of flow control solutions and related services to the oil and gas, nuclear and thermal power generation and water utilities sectors in Russia and the CIS. HMS Group's products are mission-critical elements of projects across a diverse range of industries. It has participated in a number of large-scale infrastructure projects in Russia, including providing pumps and modular equipment to the Vankor oil field and pumping stations on recent trunk pipelines projects linking Russia's core oil producing areas to export ports on the Pacific Ocean and Baltic Sea. The Group reported revenues of Rub 7.3 billion, adjusted EBITDA of Rub 1.4 billion and profit for the period of Rub 485 million for the 3 months ended March 31, 2012. HMS Group's global depositary receipts ("GDRs") are listed under the symbol "HMSG" on the London Stock Exchange.
DISCLAIMER
THIS COMMUNICATION DOES NOT CONSTITUTE AN OFFER OF, OR THE SOLICITATION OF AN OFFER TO BUY OR SUBSCRIBE FOR, GDRs OR OTHER SECURITIES TO ANY PERSON IN ANY JURISDICTION TO WHOM OR IN WHICH SUCH OFFER OR SOLICITATION IS UNLAWFUL AND, IN PARTICULAR, IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE RUSSIAN FEDERATION.
THIS ANNOUNCEMENT IS NOT AN OFFER FOR SALE OF ANY SECURITIES IN THE UNITED STATES. SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"). THE HMS GROUP HAS NOT REGISTERED AND DOES NOT INTEND TO REGISTER ANY PORTION OF ANY OFFERING IN THE UNITED STATES OR TO CONDUCT A PUBLIC OFFERING OF ANY SECURITIES IN THE UNITED STATES.
THIS COMMUNICATION IS ONLY BEING DISTRIBUTED TO AND IS DIRECTED ONLY AT (I) PERSONS WHO ARE OUTSIDE THE UNITED KINGDOM OR (II) INVESTMENT PROFESSIONALS FALLING WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (THE "ORDER") AND (III) HIGH NET WORTH ENTITIES, AND OTHER PERSONS TO WHOM IT MAY LAWFULLY BE COMMUNICATED, FALLING WITHIN ARTICLE 49(2) OF THE ORDER (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS "RELEVANT PERSONS"). THE SECURITIES REFERRED TO IN THIS ANNOUNCEMENT ARE ONLY AVAILABLE TO, AND ANY INVITATION, OFFER OR AGREEMENT TO SUBSCRIBE, PURCHASE OR OTHERWISE ACQUIRE SUCH SECURITIES WILL BE ENGAGED IN ONLY WITH, RELEVANT PERSONS. ANY PERSON WHO IS NOT A RELEVANT PERSON SHOULD NOT ACT OR RELY ON THIS DOCUMENT OR ANY OF ITS CONTENTS.
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