| Cherkizovo Group / Miscellaneous - High Priority RAEX Agency (Expert RA) reiterates PJSC Cherkizovo Group's credit rating of 'A++' with stable outlook 19-Jan-2017 / 14:21 CET/CEST Dissemination of a Regulatory Announcement, transmitted by EquityStory.RS, LLC - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement.
RAEX Agency (Expert RA) reiterates PJSC Cherkizovo Group's credit rating of 'A++' with stable outlook Moscow, Russia - January 19, 2017 - Cherkizovo Group (LSE: CHE; MOEX: GCHE), the largest vertically integrated meat and feed producer in Russia ('Cherkizovo' or the 'Group'), announces that RAEX Agency ('RAEX' or the 'Agency') has reiterated the Group's credit rating of 'A++' with a stable outlook. RAEX has repealed the 'under review' status of the Group's credit rating. The key positive drivers behind the rating were the government's support of the Group in the form of subsidized loans, the Group's moderately high liquidity ratios, overall business diversification and Cherkizovo's ability to leverage itself. On top of that the Agency noted the Group's lack of dependency on major suppliers and customers, as well as high level of risk management, timely and accurate disclosure of financial information, and broad geography of Cherkizovo's business. The reiterated rating reflects stable financial position as Cherkizovo's operational results improved on the back of gradual growth in meat consumption in Russia. Net debt/EBITDA ratio also demonstrated a positive trend during the year. Cherkizovo Group Dmitry Yakovlev IR Manager +7 (495) 660 2440 ext. 15962 d.yakovlev@cherkizovo.com FTI Consulting Anton Karpov +7 (495) 795 0623 anton.karpov@fticonsulting.com About Cherkizovo Group Cherkizovo Group isthe largest meat and feed producer in Russia. The Group is a top-3 producer in the poultry, pork and processed meat markets and is the largest feed manufacturer in the country. Cherkizovo Group encompasses 8 full cycle poultry production facilities, 15 modern pork production facilities, 6 meat processing plants, 9 feed mills and more than 140,000 hectares of agricultural land. In 2015, Cherkizovo Group produced more than 825,000 tons of meat products. Thanks to its vertically integrated structure, which includes grain growing and storage, feed production, livestock breeding, fattening and slaughtering, and meat processing, alongside a distribution system, the Group has consistently delivered stable, long-term revenue growth. The Group's consolidated revenue reached RUB 77.0 bn in 2015. Cherkizovo Group shares are traded on the London Stock Exchange (LSE) and on the Moscow Exchange (MOEX). The EquityStory.RS, LLC Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de/ukreg |
| Language: | English |
| Company: | Cherkizovo Group |
| Lesnaya str. 5B, White Square Office Center, 12th | |
| 125047 Moscow | |
| Russia | |
| Phone: | +7 495 660-24-40 |
| Fax: | +7 495 788-32-32 |
| E-mail: | info@cherkizovo.com |
| Internet: | www.cherkizovo.com |
| ISIN: | US1641452032 |
| Listed: | Foreign Exchange(s) London, Moscow |
| Category Code: | MSCH |
| TIDM: | CHE |
| Sequence No.: | 3765 |
| End of Announcement | EquityStory.RS, LLC News Service |
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