Moody’s and S&P Upgrade X5’s RatingMoscow, 4 April 2017 — X5 Retail Group N.V. ("X5" or "the Company"), a leading Russian food retailer (LSE ticker: "FIVE"), notes that ratings agencies Moody's Investors Service and S&P Global Ratings have upgraded the Company's ratings.
31 March 2017 Moody's has upgraded X5's corporate family rating (CFR) to Ba2 from Ba3, and the Company's probability of default rating (PDR) to Ba2-PD from Ba3-PD. The outlook on all the ratings is «Positive».
Moody's stated that the main factors supporting the upgrade are strong sales growth, solid and sustained profitability, and improved leverage.
3 April 2017 S&P has upgraded X5's long-term corporate credit rating to BB from BB- with the «Stable» outlook.
S&P stated that the upgrade reflects X5's continuing strong operating performance and further improvement in its credit metrics.
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.