LSR Group (LSE: LSRG; MOEX: LSRG), one of the leading real estate developers and building materials producers in Russia, announces that Moody’s Investors Service (Moody’s) has upgraded the corporate family rating (CFR) of LSR Group PJSC from B2 to B1 and its probability of default rating from B2-PD to B1-PD with a stable outlook for both ratings. 

Moody’s noted that the rating action reflects LSR Group’s proven track record of successfully weathering the industry cycle, while preserving adequate operating performance and a healthy financial and liquidity profiles. This is supported by LSR Group’s leading market positions, high brand recognition, vertically integrated business model, prudent financial policy, and strong land bank position with a focus on two most lucrative markets of Moscow and St. Petersburg.

Andrey Nikitin, CFO, comments: «The rating upgrade bodes well into our recently adapted long-term strategy of forecastable growth and enhanced financial efficiency. The new rating will likely translate into lower cost of capital including potential new public debt as it makes LSR Group’s prospective bond issues eligible for inclusion in the Bank of Russia Lombard List.»

For more information please contact:
LSR Group Press Service
Tel.: +7 812 333 11 11
E-mail: press@lsrgroup.ru
www.lsrgroup.ru