DJ Sistema PJSFC: Fitch Ratings upgrades Sistema's credit rating to BB
Sistema PJSFC (SSA)
Sistema PJSFC: Fitch Ratings upgrades Sistema's credit rating to BB
25-Jun-2021 / 19:28 MSK
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Fitch Ratings upgrades Sistema's credit rating to BB
Moscow, 25 June 2021 - Sistema PJSFC ("Sistema" or "the Corporation") (LSE: SSA; MOEX: AFKS), a Russian public
diversified holding company, announces that Fitch Ratings has upgraded Sistema's credit rating from BB- to BB, with a
stable outlook.
Vladimir Travkov, Sistema's Vice President for Finance, said:
"The ratings upgrade to BB by Fitch reflects a substantial transformation of our portfolio of assets in recent years,
including significant increases in the scale of businesses at Segezha Group, Agroholding Steppe and Medsi, an increase
in the proportion of liquid assets in our portfolio on the back of IPOs of Segezha Group and Ozon, resilience of the
Corporation's diversified portfolio amidst the COVID-19 pandemic, as well as elimination of foreign currency risk in
our debt portfolio given that 100% of the Corporation's financial liabilities are now denominated in roubles."
In May 2021, ratings agency S&P affirmed Sistema's rating at BB and raised the outlook to positive, meaning that the
rating may be upgraded over the next 12-18 months.
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Sistema PJSFC is a publicly traded Russian investment company with a diversified portfolio of assets serving over 150
million customers in the sectors of telecommunications, high technology, financial services, retail, paper and
packaging, agriculture, real estate, tourism and medical services. The company was founded in 1993. Revenue in 2020 was
RUB 691.6 billion; total assets equalled RUB 1.4 trillion as of 31 December 2020. Sistema's global depositary receipts
are listed under the "SSA" ticker on the London Stock Exchange. Sistema's ordinary shares are listed under the "AFKS"
ticker on the Moscow Exchange. Website: www.sistema.com.
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For further information, please visit www.sistema.com or contact:
Investor Relations Public Relations
Nikolai Minashin Sergey Kopytov
Tel.: +7 (495) 730 66 00 Tel.: +7 (495) 228 15 32
n.minashin@sistema.ru kopytov@sistema.ru -----------------------------------------------------------------------------------------------------------------------
ISIN: US48122U2042
Category Code: MSCM
TIDM: SSA
LEI Code: 213800JSZ2UUK4QQK694
Sequence No.: 113783
EQS News ID: 1212326
End of Announcement EQS News Service
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June 25, 2021 12:29 ET (16:29 GMT)
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