Moody’s Upgrades Outlook on X5 Ba3 Rating to PositiveX5 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 multi-format food retailer in Russia. X5 shares are listed on the London Stock Echange (LSE) and Moscow Exchange in the form of Global Depositary Receipts under the ticker "FIVE". 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.