Maxima Grupė Retains S&P’s BB+ Credit Rating
Maxima Grupė has announced that it has retained its BB+ credit rating with a stable outlook by Standard & Poor’s (S&P) for a second year.
The international credit rating agency reviewed the retailer's operations and financial performance and based its decision on its leading position in the market, achieved through competitive price positioning, good store-format diversity, and prudent financial policy.
'Sustainable Financial Position'
Vitalij Rakovski, the CFO of Maxima Grupė, said, "We are delighted with Standard & Poor’s assessment, which proves Maxima Grupė’s strong position in the Baltic States and successful integration of the acquired Polish chain Stokrotka.
"Retaining a solid BB+ credit rating for a second year confirms the reliability of the company and its sustainable financial position."
Maxima Grupė is one of the few retailers in the Central and Eastern European region to have obtained an international credit rating.
In July 2018, the retailer received a BB+ credit rating, which opened up new opportunities for the company in the international capital markets.
It successfully placed a €300 million issue of five-year bonds, which were acquired by more than 60 investors from 14 countries.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.