17th Aug 2015 13:30
Standard & Poor's upgrades Lenta to 'BB-' with a stable outlook
Saint-Petersburg, Russia; 17 August 2015 - Lenta, (LSE, MOEX: LNTA) one of the largest retail chains in Russia, is pleased to confirm that Standard & Poor's has upgraded Lenta Ltd. and its main operating subsidiary Lenta LLC's long-term corporate credit ratings to 'BB-' with a stable outlook.
The ratings upgrade reflects Lenta's improved business risk profile, supported by the Company's successful expansion and increased operating efficiency. S&P believes that the group should be able to sustain similar or stronger operating performance and credit measures over the next two years, despite the challenging economic backdrop in Russia.
About Lenta
Lenta is one of the largest retail chains in Russia and the country's second largest hypermarket chain (in terms of 2014 sales). The Company was founded in 1993 in St. Petersburg. Lenta operates 118 hypermarkets in 631 cities across Russia and 27 supermarkets in Moscow, with a total of approximately 763,145 sq.m of selling space. The average Lenta hypermarket store has selling space of approximately 6,200 sq.m. The Company operates five owned hypermarket distribution centres.
The Company's price-led hypermarket formats are differentiated in terms of their promotion and pricing strategies as well as their local product assortment. The Company employed approximately 35,100 people as of 31 December 20142.
The Company's management team combines a mix of local knowledge and international expertise coupled with extensive operational experience in Russia. Lenta's largest shareholders include TPG Capital and the European Bank for Reconstruction and Development, both of which are committed to maintaining high standards of corporate governance. Lenta is listed on the London Stock Exchange and on the Moscow Exchange and trades under the ticker: 'LNTA'.
A brief video summary on Lenta's business and its Big Data initiative can be seen here.
For further information please visit www.lentainvestor.com, or contact:
Lenta Anna Meleshina, Public Relations & Government Affairs Director Tel: +7 812 363 28 53 E-mail: [email protected]
Yana Mogileva, PR Manager Тel:+7 (812) 336 39 97 E-mail: [email protected]
| Instinctif Partners International Media: Mark Walter and Saule JandossovaТel:+44 (0)20 7457 2020 E-mail: [email protected]
Russian Media: Leonid FinkТel:+44 783 767 4444 E-mail: [email protected] |
1 Lenta has changed methodology for calculating number of cities of presence and since 1 May 2015 all cities located in Moscow City and the Moscow region are shown as Moscow.
2FTE (full-time equivalent). Average FTE for 2014 was 27,200 employees.
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