Russia's largest ratings agency Expert RA has upgraded the credit rating of BELUGA GROUP to ruАA- with a stable outlook. The company's previous rating was ruA+ with the same outlook. The new rating indicates a high level of creditworthiness, as well as financial reliability.

The official release of Expert RA states that the rating upgrade is due to the strong financial results of BELUGA GROUP in 2022. The agency records positive dynamics both in the in-house production segment and in the retail segment represented by WineLab stores. It is noted that the company is characterized by a high level of localization of its in-house production, which allows maintaining high operating performance in the current macroeconomic and geopolitical environment. The agency highly appreciates BELUGA GROUP's diversified brand portfolio, which ensures the company's leadership in key alcohol categories and segments. In addition, the company's forecasted liquidity position is positively assessed: a significant amount of expected operating cash flow within next 12 months and a considerable free cash flow position fully cover planned capital expenditure program to support and further develop the group's business, service and repayment of debts as well as dividend payment. The quality of BELUGA GROUP's corporate governance is highly appreciated.

The upgraded rating reflects the company's sustainable development. Management and control at all stages of operation - from production to sales to consumers - allow the group to respond flexibly to the challenges, adapt to the situation, quickly change tactics and offer popular products at the optimal prices.

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Beluga Group PAO published this content on 06 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 April 2023 07:43:07 UTC.