Moscow, November 29, 2019 — Standard and Poor’s has upgraded PIK’s credit rating outlook to positive and affirmed B + credit rating.
According to the agency, diversification of revenue sources, leading market position as well as increased EBITDA margins will mitigate the consequences of switching to a new project financing scheme in accordance with the requirements of Russian legislation.
A positive outlook indicates a possible rating upgrade by one notch if PIK maintains its leading position on the market backed by stable levels of sales, completions and revenue from the development business.
Polina Kurshetsova, tel: +7(495) 505 97 33 ext. 3785, e-mail: firstname.lastname@example.org
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