X5 Retail Group, Russia’s largest retailer in terms of sales, announced today that Moody’s Interfax Rating Agency has confirmed that its corporate family rating for the group stands at B1.
As stated in the rating agency’s press release, “Moody’s recognises the company’s strong operating performance, its high organic and acquisition-related growth, ability of managing acquisitions, and a continuous strengthening of its leading positions in the Russian retail market.”
The agency explained that the change in outlook to stable from positive was mainly prompted by its view that ‘the company’s rapid growth strategy and respective large investments will postpone its de-leveraging’.
