3 Aug 2017 10:06
ACRA assigns A+ (RU) to Lenta with "Stable" outlook
St. Petersburg, Russia; 3 August 2017 - Lenta, (LSE, MOEX: LNTA), one of the largest retail chains in Russia, today announced that the ACRA has assigned A+ (RU) credit rating to Lenta LLC. The outlook on the ratings is "Stable".
The rating is under the National Scale for the Russian Federation and is assigned to Lenta by ACRA for the first time.
According to ACRA, the credit rating assigned to Lenta is stems from its strong operating profile, very strong corporate governance, moderate leverage, comfortable fixed charge coverage and very strong liquidity. The rating is further supported by a high share of own selling space in the total selling area of the Company.
About Lenta
Lenta is the largest hypermarket chain in Russia (in terms of selling space) and the country's fourth largest retail chain (in terms of Q1 2017 sales). The Company was founded in 1993 in St. Petersburg. Lenta operates 195 hypermarkets in 78 cities across Russia and 59 supermarkets in Moscow, St. Petersburg, Novosibirsk and the Central region with a total of approximately 1,173,416 sq.m of selling space. The average Lenta hypermarket store has selling space of approximately 5,700 sq.m. The average Lenta supermarket store has selling space of approximately 900 sq.m. The Company operates seven owned 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 45,689 people as of 31 December 2016.
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:
FTI Consulting Russian Media: Anton Karpov & Victoria AfoninaТel:+7 495 795 06 23 E-mail: lenta@FTIconsulting.com
| FTI Consulting International Media: Leonid Fink & Jenny PayneТel: +44 7497 783 705 E-mail: Leonid.Fink@fticonsulting.com Jenny.Payne@fticonsulting.com |
Forward looking statements:
This announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the fact that they do not only relate to historical or current events. Forward-looking statements often use words such as "anticipate", "target", "expect", "estimate", "intend", "expected", "plan", "goal", "believe", or other words of similar meaning.
By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances, a number of which are beyond Lenta's control. As a result, actual future results may differ materially from the plans, goals and expectations set out in these forward-looking statements.
Any forward-looking statements made by or on behalf of Lenta speak only as at the date of this announcement. Save as required by any applicable laws or regulations, Lenta undertakes no obligation publicly to release the results of any revisions to any forward-looking statements in this document that may occur due to any change in its expectations or to reflect events or circumstances after the date of this document.