23rd Jan 2006 15:19
Pyaterochka Holding N.V.23 January 2006 THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS RESTRICTED AND NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE IN THE RUSSIAN FEDERATION, AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OF AMERICA. 23 January 2006 PYATEROCHKA ASSIGNED CREDIT RATING OF 'BB-' BY STANDARD & POOR'S Pyaterochka Holding NV, Russia's leading retailer, today was assigned along-term corporate credit rating of 'BB-' by Standard & Poor's RatingsServices. The outlook for the rating is stable. At the same time, Standard & Poor's assigned its 'BB-' long-term corporatecredit and 'ruAA-' Russia national scale ratings to Pyaterochka's operatingsubsidiary OOO Agrotorg. Standard & Poor's also assigned its 'ruAA-' Russia national scale rating toPyaterochka Finance's Russian ruble bond issues, series 1 and 2, issued in theamount of RUR 1.5 billion and RUR 3.0 billion, respectively. The rating of 'BB-' is the same rating which the Russian Federation held in2002. The strong credit rating awarded to Pyaterochka was described by Standard &Poor's as representative of the company's leading market position "in a retailmarket that has sound growth potential and continuing solid revenue,profitability, and cash flow growth." The stable financial outlook reflects "expectations that Pyaterochka will becapable of combining its fairly aggressive growth ambitions with an adequatefinancial policy and traditional attention to cost control." An international credit rating gives Pyaterochka the strategic flexibility todiversity its funding sources by accessing the international financial markets. In addition, this strong credit rating gives Pyaterochka increased credibilitywith fixed income investors in its Russian ruble bonds. - End - Enquiries to: Tanja DjurdjevicInvestor RelationsMobile : +7 495 724 6414Email : [email protected] Notes to Editors: Pyaterochka is a leading Russian retailer, with a chain of 347 company-managedstores located in the Moscow, St. Petersburg and Yekaterinburg areas as of 1January 2006. In addition to the company's own stores, franchisees operate 404Pyaterochka-branded stores in the Russian regions outside of Moscow and St.Petersburg, Kazakhstan and Ukraine as of 1 January 2006. Pyaterochka's stores are conveniently located "soft" discount stores, open sevendays a week from 9am to 10pm, offering a product range of up to 4,500 itemscovering the day-to-day needs of its customers. The information contained herein is not for publication or distribution in theUnited States of America. These materials do not contain or constitute an offerof securities for sale in the United States. The securities of PyaterochkaHolding N.V. have not been and will not be registered under the U.S. SecuritiesAct of 1933, as amended, and may not be offered or sold in the United Statesabsent registration under that Act or an available exemption from it. This announcement does not constitute an advertisement, an offer to sell or thesolicitation of an offer to purchase any securities in the Russian Federation orany other jurisdiction. These materials are directed only at (a) persons who have professionalexperience in matters relating to investments who fall within Article 19(1) ofthe Financial Services and Markets Act 2000 (Financial Promotion) Order 2001(the "Order") or (b) high net worth entities, and other persons to whom it mayotherwise lawfully be communicated, falling within Article 49(1) of the Order(all such persons together being referred to as "relevant persons"). Any personwho is not a relevant person should not act or rely on these materials. Personsdistributing these materials must satisfy themselves that it is lawful to do so. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
X5 Retail