Sistema rating raised to ruA by Expert RA

MOSCOW: Sistema PJSFC, a publicly traded diversified Russian holding company, announced that the RAEX (Expert RA) rating agency has raised Sistema’s credit rating from ruA- to ruA. The outlook for the rating is stable.

The rating upgrade is the result of consistent deleveraging at the Corporate Centre against a backdrop of increasing valuations of Sistema’s assets. Expert RA also noted that the rating was positively impacted by the low level of foreign currency exposure following the redemption of the Corporation’s Eurobond in May 2019, by the lack of concentrated borrowing from a single lender, and by Sistema’s strong track record on corporate governance and financial disclosure.

Vladimir Travkov, Sistema Vice President and Chief Financial Officer, said: “The upgrade of our rating by Expert RA – which follows an upgrade by S&P – reflects the Corporation’s achievements in growing the value of our portfolio company, reducing debt, as well as diversifying and optimising our debt portfolio.”

The ruA rating meets the requirements for inclusion of Sistema’s bonds in the Bank of Russia’s Lombard List, which will further strengthen the investment appeal of our debt instruments.



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