August 30, 2021
ACRA affirms Cherkizovo Group's credit rating
Cherkizovo Group announced that the Analytical Credit Rating Agency (ACRA) has affirmed the company's A+(RU) credit rating with a "Stable" outlook, Cherkizovo announced on August 26.
ACRA noted that the current rating is based on Cherkizovo's strong business profile, which stems from a high assessment of vertical integration and good product diversification. "The company enjoys strong market positions. The listing of Cherkizovo shares indicates that the company meets high corporate governance requirements," ACRA's press release said.
According to ACRA, Cherkizovo has access to a large amount of funds available to it under credit facilities, which allows the agency to maintain its very high liquidity assessment. In describing the key factors behind its decision, ACRA also pointed out that the company has maintained high profitability amid revenue growth in 2020 and the first half of 2021.
"Our vertically-integrated business model and focus on sales channel diversification and high value-added products are the key drivers of Cherkizovo's long-term development strategy, helping it remain in a robust financial position despite the constantly changing macroeconomic environment," Ludmila Mikhailova, chief financial officer at Cherkizovo Group, said. "Today, we are preparing to launch new large-scale investment projects that will enable us to further grow the output of high-quality meat products."