Standard and Poor’s Revises Outlook on X5 to PositiveX5 Retail Group N.V. ("X5" or "the Company"), a leading Russian food retailer (LSE ticker: “FIVE”), announces that the Standard and Poor’s rating agency ("S&P") revised its outlooks on both X5 and its subsidiary X5 Finance to positive from stable. The “BB-" long-term corporate credit ratings on both companies were affirmed. S&P also affirmed its "BB-" rating on X5 Finance's senior unsecured ruble bond.
In the report, S&P noted that X5's operations continued to improve in 2015, despite difficult economic conditions, and S&P expects the Company’s credit metrics to strengthen further. The positive outlook reflects the possibility of an upgrade if X5 further improves its operating performance and credit metrics, while adhering to a prudent financial policy.
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.