The bond reliability rating coincides with the issuer's credit rating (A “High level of creditworthiness”). According to the agency's analysts, the credit quality of the bonds and the issuer itself will remain the same in the future, therefore, if the credit rating of the issuer changes, the reliability rating of the bond issue is also subject to revision.
Earlier, the rating agency Expert RA confirmed the rating of Obuv Rossii at level A, changing the outlook from “stable” to “positive”. Positive outlook means a high probability of a rating upgrade in the medium term. The assignment of a "positive" outlook on the rating of Obuv Rossii Group of Companies is associated with the improvement of the group's financial performance.
Growth and a high level of capital adequacy had a positive effect on the group rating level (the ratio of equity to assets on 30.06.2012 was 0.6), as well as acceptable indicators of liquidity, profitability and debt burden.
In addition, the rating was positively affected by asset growth (an increase of more than 2 times over the period from 31.12.2009-30.06.2012), high diversification of revenue by region and high rates of business activity. Agency analysts also noted the acceptable level of currency risks of the group.
The Obuv Rossii group of companies is a federal footwear company founded in 2003 with its head office in Novosibirsk. The main business areas of the group are retail and wholesale trade in footwear and related goods, footwear production. Today more than 190 stores of the company operate in 55 cities of Siberia, the Urals, the central part of Russia, the Volga region and the Far East. As of June 30.06.2012, 3.32, the assets of Obuv Rossii Group of Companies were at the level of 2012 billion rubles, revenue in the first half of 1.04 amounted to XNUMX billion rubles.