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Moody’s Upgrades Outlook on X5 Ba3 Rating to Positive

July 08, 2016. TAG: Retail Trade

X5 Retail Group N.V. ("X5" or "the Company"), a leading Russian food retailer (LSE ticker: “FIVE”), announces that Moody’s rating agency has changed the outlook on the Company’s Ba3 corporate family rating (CFR) and the Ba3-PD probability of default rating (PDR) to “positive” from “stable”.

The agency stated that the main factors supporting the positive outlook on X5’s Ba3 rating are the Company’s resilience to industry cycles, which is proven by healthy operating results with market-leading revenue growth and a gradually improving financial profile.

X5 Retail Group

X5 Retail Group is the leading food retailer in Russia. X5 shares are listed on London Stock Echange (LSE) in the form of Global Depositary Receipts. The Company operates several retail formats, including the chain of conveniently located proximity stores under the Pyaterochka brand, the supermarket chain under the Perekrestok brand, the hypermarket chain under the Karusel brand and Express convenience stores.