S&P Global Ratings assigned B+ long-term credit rating with Positive outlook to holding company SAFMAR Financial investments
On 29 June 2018, rating agency S&P Global Ratings assigned B+ long-term credit rating in national and foreign currency with Positive outlook to holding company SAFMAR Financial investments (SFI; MOEX: SFIN).
The S&P Global Ratings report noted the possibility of the SFI credit rating improvement within the next 12-18 months, provided the debt burden is kept on a minimum level and the history of dividend payments from holding company’s subsidiaries is formed. The agency analytics highlighted the following positive factors which influence the current SFI rating: credibility improvement of the holding company’s subsidiaries, absence of current SFI plans on borrowing funds to implement its investment strategy, and the holding company’s strong position in available liquidity.
Avet Mirakyan, CEO of SAFMAR Financial investments, commented on the rating assignment “The SFI subsidiaries and, consequently, the holding company in general achieved positive financial results for 2017 and the first quarter of 2018. At the holding company level we adopted an investment strategy determining our mid-term development, and a dividend policy aimed at increasing attractiveness of our shares for market investors. These measures allowed us to receive a decent credit rating, while there are all the required conditions for improving this rating in the next year or year and a half. In order to achieve this goal we will follow specific recommendations provided in the report of our colleagues from S&P, which incidentally coincide with our own business development plans”.
Full press release of S&P Global Ratings on its rating assignment to the holding company is available on the agency’s website: www.standardandpoors.com.
PJSC SAFMAR Financial investments
+7 (926) 552-93-54
Note: PJSC SAFMAR Financial investments is a public diversified investment holding company with the focus on the financial sector, founded in 2016. Its investment portfolio consists of Russian companies bringing together leasing, insurance and pension assets, including 100% in JSC LC Europlan, 49% in VSK Insurance House and 100% in JSC NPF SAFMAR. The holding company is part of SAFMAR Group founded by Mikhail Gutseriev as one of Russia’s largest industrial and financial groups, which manages industrial, retail and financial companies, commercial real estate, construction and development projects.