Expert RА Agency Reiterated ruA+ Credit Rating to Detsky Mir; Outlook Stable
March 26, 2020 Moscow, Russia. – PJSC Detsky Mir (“Detsky Mir”, the “Group” or the “Company”, MOEX: DSKY), Russia’s largest specialized children’s goods retailer, announces that Expert RA rating agency has reiterated Detsky Mir a long-term credit rating of ruA+ with a stable outlook.
According to the report, Expert RA outlines the key factors contributing to this credit rating, which include the Company’s leading position in the retail market of children’s goods, demonstrating sound profitability and a competitive pricing policy translating into robust like-for-like annual sales growth rates. PJSC Detsky Mir has the low level of foreign currency exposure. The company has an adequate amount of confirmed undrawn credit lines, as well as access to the capital debt market, the Company plans to refinance short-term liabilities for a period of more than one year.
Additional information is available on the website: https://raexpert.ru/
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Detsky Mir Group (MOEX: DSKY) is a multi-format retailer and Russia’s and Kazakhstan’s largest specialized children’s goods retailer. The Group comprises the Detsky Mir and the Detmir.ru retail chains, the ELC (Early Learning Centre in Russia) and the ABC retail chains, as well as the Zoozavr pet supplies retail chain. The Company operates a network of 766 Detsky Mir stores located in 293 cities in Russia, Kazakhstan and Belarus, 4 Detmir.ru stores, as well as 49 ELC, 13 ABC and ten Zoozavr stores as of 31 December 2019. Total selling space was approximately 843,000 square meters
Detsky Mir Group’s shareholder structure as of the date of this announcement is as follows: PJSFC Sistema[1] – 33.38%, Russia-China Investment Fund (RCIF) [2] – 9.0%, free-float – 57.62%.
Lear more at www.detmir.ru, elc-russia.ru, ir.detmir.ru
(1) Sistema PJSFC is a publicly-traded diversified Russian holding company serving over 150 million customers in the sectors of telecommunications, children’s goods retail, paper and packaging, healthcare services, agriculture, high technology, banking, real estate, pharmaceuticals and hospitality.
(2) RCIF, an equity fund established by the Russian Direct Investment Fund (RDIF) and China Investment Corporation (CIC), holds its stake in PJSC Detsky Mir through its funds: Floette Holdings Limited and Exarzo Holdings Limited.