Analytical credit rating agency ACRA has affirmed its B + credit rating to Gruppa Prodovolstvie LLC with stable outlook. The confirmation of the credit rating is due to the preservation of credit metrics within the ranges established for this rating level, the agency said in a statement.
Gruppa Prodovolstvie LLC specializes in the wholesale of sugar, grain and flour, seeds and feed for farm animals. The volume of product sales in 2020 amounted to about 121 thousand tons. The Company has a consistent strategy, the implementation of which is generally assessed by ACRA as successful. Since 2017, Gruppa Prodovolstvie LLC has been actively working to increase exports to countries such as Azerbaijan, Georgia, Tajikistan, Uzbekistan, Kyrgyzstan, Lebanon, UAE, Turkey, Jordan and Iran. The share of exports in revenue at the end of 2020 was 15%. Gruppa Prodovolstvie LLC has ambitious plans to expand the scope of its activities, as well as significant investment plans.
In September 2020, the Company placed its debut bond issue in the amount of RUB 70 million with maturity in 2022. In 2021, another issue was placed for RUB 100 million. With the advent of bond issues, the loan portfolio of Gruppa Prodovolstvie LLC has become more diversified by sources for financing working capital.
For the first time, the credit rating of Gruppa Prodovolstvie LLC was published by ACRA on 09.12.
