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Obuv Rossii Finishes Its Cooperation with Expert RA Rating Agency
4 October 2019, Novosibirsk, Russia: Obuv Rossii Group has finished its cooperation with the Expert RA Russian rating agency. The decision to refuse from further updating of the credit rating assigned by Expert RA was made by top managers of the Group in connection with the expiry of the respective contract. Obuv Rossii is studying the Russian market of rating services and is considering rating cooperation with either Russian or international agencies taking into account the goals and tasks of the Company.
“To finance the fast business development, we continue to operate on the capital market; we will keep implementing our bond program. We have now a wide pool of investors, foreign investment funds are presented in the company’s shareholder capital,” says Anton Titov, CEO of Obuv Rossii Group. “As for the rating services market, the international Big Three as well as four big national rating agencies accredited by the Central bank of the Russian Federation with the right to assign ratings according to the national scale operate at the market. When choosing a new partner for credit rating, we set the task to get practical application of the rating, which will make it possible for us to decrease the cost of funding and will expand our possibilities of attracting funds.”
Obuv Rossii is thriving: in 2018, it opened 192 new stores, and over the 9 months of the current year, it launched more than 150 new sales outlets. Obuv Rossii is going to maintain this network growth rate, to raise its online sales and to develop additional services for its customers. A long-term goal of the Company is to operate in all cities with population of over 50 thousand people and to increase significantly its share on the Russian shoe market, to become a leader in brand awareness, in efficiency and IT integration, and in the level of retail and omnichannel sale.
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