14 Mar 2022 08:30
Sistema PJSFC (SSA) Sistema PJSFC: Rating action by Fitch 14-March-2022 / 11:30 MSK Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Moscow, Russia - 14 March 2022 - Sistema PJSFC ("Sistema") notes the announcement by Fitch Ratings regarding the downgrade of Sistema's long-term foreign-currency issuer default rating from B (rating watch negative) to CC. The rating action follows the agency's downgrade of Russia's sovereign ratings on 8 March 2022 to C (see 'Fitch Downgrades Russia to 'C' at www.fitchratings.com) and reflects opinion of the Agency, that new restrictions may impair the Russian companies' ability to service debt. Sistema maintains a robust financial position and comfortable leverage, as demonstrated in its financial statements for Q3 2021. The corporate center's debt portfolio is fully denominated in local currency. ***Sistema PJSFC is a publicly traded Russian investment company with a diversified portfolio of assets serving over 150 million customers in the sectors of telecommunications, high technology, financial services, retail, paper and packaging, agriculture, real estate, tourism and medical services. The company was founded in 1993. Revenue in 2020 was RUB 691.6 billion; total assets equalled RUB 1.4 trillion as of 31 December 2020. Sistema's global depositary receipts are listed under the "SSA" ticker on the London Stock Exchange. Sistema's ordinary shares are listed under the "AFKS" ticker on Moscow Exchange. Website: www.sistema.com. ***For further information, please visit www.sistema.com or contact:
|
| ISIN: | US48122U2042 |
| Category Code: | MSCM |
| TIDM: | SSA |
| LEI Code: | 213800JSZ2UUK4QQK694 |
| Sequence No.: | 148663 |
| EQS News ID: | 1301153 |
| End of Announcement | EQS News Service |
UK Regulatory announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.