ALROSA 23 April, 2021 - Expert RA confirmed ALROSA's credit rating at highest ruAAA level with stable outlook.
Following an annual review, the agency affirmed ALROSA's long-term rating at ruAAA with a 'stable' outlook - the highest level of creditworthiness, financial reliability, and financial strength on the national scale.
Expert RA praised the Company's financial resilience demonstrated in 2020 despite challenging market conditions. The agency's rating reflects ALROSA's strong corporate governance practices, prudent financial and dividend policies updated in March 2021 to further enhance its operational resilience. The agency noted strong competitive position of ALROSA citing its industry leadership, vast low-cost resource base, and consistently high margins.
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Expert RA first assigned a credit rating to ALROSA in May 2020 (ruAAA with a 'stable' outlook). At the time, the agency noted ALROSA's robust business model and its strong market position in the face of challenging conditions in the diamond market and the resulting worsening of the Company's financial results. Expert RA pointed that the Company's strengths would help it to maintain financial stability and secure an operating cash flow sufficient to finance capex and service liabilities to creditors and holders of ALROSA's securities over the next 18 months.
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ALROSA PJSC published this content on 23 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 April 2021 10:51:01 UTC.
