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Since 2008, Obuv Rossii is assigned creditworthiness ratings (an agreement with a rating agency, Expert RA CJSC, for assigning ratings.)

The credit rating (creditworthiness rating) is assigned to companies in all economy sectors and shows subjective opinion of the Expert RA rating agency concerning the ability of the company to fulfill its financial obligations in time and in full.

The creditworthiness rating technique is adjusted to specific characteristics of the Russian market and does not take into account the country risk of Russia, i.e. the credit rating is assigned by the agency only according to the national scale. The credit rating includes a forecast of possible changes in the economic environment and assessment of prospects for company development in the midterm.

In December 2020, Expert RA rating agency has assigned a ruBBB rating to Obuv Rossii according to the updated method. The rating outlook is developing.

The Group's profitability is at a high level and averages about 24% in terms of EBITDA in the 2019-2021 horizon. The high margins of the Company have a positive impact on the rating, even taking into account the decrease in indicators for the 1st half of 2020 and forecasts for 2020. The forecasted liquidity of the Group is estimated at a high level, taking into account the negotiations held in 2020 with the creditor banks, the revision of the repayment schedules and updates of the limits. The corporate risks block supports the rating. The transparency, corporate governance system with respect for the rights of all stakeholders and the risk management quality are highly assessed.


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