Russia’s Expert RA places Eurotorg Ltd on Rating Watch
<p> MINSK, Jul 28 - PrimePress. Russia’s Expert RA ratings agency has placed on Rating Watch the ‘byAAA’ credit rating of Belarus’ largest food retailer Eurotorg Ltd non-financial company, which means that a rating action is highly probable in the near future. This was reported in a press release on the agency’s website. </p> <p> </p> <p> Eurotorg’s current rating (‘byAAA’, Outlook ‘Stable’) remains effective. </p> <p> </p> <p> “Placing Eurotorg on Rating Watch is due to the increased sanctions risks in relation to the Republic of Belarus, as well as the possible expansion of sectoral sanctions,” reads the report. </p> <p> </p> <p> At present, Expert RA is reviewing the country risk of the Republic of Belarus and after its completion, the credit rating of the company and its bond issues may be revised, press release says. </p> <p> </p> <p> Eurotorg has repeatedly explored the Russian public debt market with its bonds. In March 2021, Eurotorg placed 5-year exchange-traded bonds worth Br3.5 billion on the Moscow Exchange. In June 2021, the company's director for investor relations, Andrei Belkovets, informed that Eurotorg LLC, could possibly place ESG bonds, "green" or transitional issues of bonds, on the Moscow Stock Exchange. </p> <p> </p> <p> As previously reported, the EU Council on 25 June 2021 introduced sanctions against largest sectors of Belarus’ economy entities in response to human rights abuse by Belarus authorities and the Ryanair diversion incident of 23 May 2021. The EU Council prohibited EU entities and individuals from purchasing, selling, and provide investment services for or assistance in the issuance of, or otherwise deal with transferable securities and money-market instruments with a maturity exceeding 90 days, issued after 29 June 2021. </p> <p> </p> <p> Eurotorg has been operating since 1993, the first shop under the brand name Euroopt was opened in 1997. Eurotorg’s self-estimated share in the retail market of Belarus stands at 19%. End </p>
2021-07-29
Primepress
Russia’s Expert RA places Eurotorg Ltd on Rating Watch
MINSK, Jul 28 - PrimePress. Russia’s Expert RA ratings agency has placed on Rating Watch the ‘byAAA’ credit rating of Belarus’ largest food retailer Eurotorg Ltd non-financial company, which means that a rating action is highly probable in the near future. This was reported in a press release on the agency’s website.
Eurotorg’s current rating (‘byAAA’, Outlook ‘Stable’) remains effective.
“Placing Eurotorg on Rating Watch is due to the increased sanctions risks in relation to the Republic of Belarus, as well as the possible expansion of sectoral sanctions,” reads the report.
At present, Expert RA is reviewing the country risk of the Republic of Belarus and after its completion, the credit rating of the company and its bond issues may be revised, press release says.
Eurotorg has repeatedly explored the Russian public debt market with its bonds. In March 2021, Eurotorg placed 5-year exchange-traded bonds worth Br3.5 billion on the Moscow Exchange. In June 2021, the company's director for investor relations, Andrei Belkovets, informed that Eurotorg LLC, could possibly place ESG bonds, "green" or transitional issues of bonds, on the Moscow Stock Exchange.
As previously reported, the EU Council on 25 June 2021 introduced sanctions against largest sectors of Belarus’ economy entities in response to human rights abuse by Belarus authorities and the Ryanair diversion incident of 23 May 2021. The EU Council prohibited EU entities and individuals from purchasing, selling, and provide investment services for or assistance in the issuance of, or otherwise deal with transferable securities and money-market instruments with a maturity exceeding 90 days, issued after 29 June 2021.
Eurotorg has been operating since 1993, the first shop under the brand name Euroopt was opened in 1997. Eurotorg’s self-estimated share in the retail market of Belarus stands at 19%. End