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S&P's upgrades Lenta to 'BB-', outlook stable

17 Aug 2015 13:30

RNS Number : 2586W
Lenta Ltd
17 August 2015
 



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: anna.meleshina@lenta.com

 

Yana Mogileva, PR Manager

Тel:+7 (812) 336 39 97

E-mail: yana.mogileva@lenta.com

 

Instinctif Partners

International Media:

Mark Walter and Saule JandossovaТel:+44 (0)20 7457 2020

E-mail: Mark.Walter@instinctif.com

 

Russian Media:

Leonid FinkТel:+44 783 767 4444

E-mail: Leonid.Fink@instinctif.com

 

 


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.

This information is provided by RNS
The company news service from the London Stock Exchange
 
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