Media

Expert RA Rating Agency affirmed credit ratings of Seligdar PJSC (MOEX: SELG, hereafter Seligdar or Company) and its subsidiary Seligdar Gold JSC at ruA+ with stable outlook.

The Agency noted high operating margin, improved loan portfolio characteristics due to raising capital in the public debt market and reduced debt burden. According to Expert RA, issue of gold bonds will allow not only to significantly extend maturity of the Seligdar’s loan portfolio but also to maintain a share of gold-nominated debt that has been historically used as a natural hedge for price and foreign exchange risks. The Agency assessed expected liquidity metrics of the Companies as moderately positive and noted qualitative characteristics of liquidity.

Besides, the agency positively assessed level of the corporate risks of Seligdar and Seligdar Gold because of high quality of strategic and corporate governance. According to the Agency, public disclosure on Group’s material matters, annual and issuer reports demonstrates high level of the Seligdar Holding’s information transparency.

The full text of the Expert RA’s press releases on ratings of Seligdar PJSC and Seligdar Gold JSC can be found on its website (in Russian).