Saint-Petersburg, Russia; 17 August 2015–Lenta LLC, the main operating subsidiary of Lenta Ltd. (“Lenta” or the “Company”), is pleased to confirm that Fitch Ratings has assigned Lenta LLC's recently issued RUB5bn bonds a senior unsecured rating of 'BB-'/'RR4' (Recovery Rating) and a National senior unsecured rating of 'A+(rus)'.
Fitch has assigned the bond rating in line with Lenta's long-term foreign and local currency Issuer Default Ratings (“IDL”) of 'BB-' and a National Long-term rating of 'A+(rus)', both with a positive outlook.
Lenta is one of the largest retail chains in Russia and the country’s second largest hypermarket chain (in terms of 2014 sales). The Company was founded in 1993 in St. Petersburg. Lenta operates 118 hypermarkets in 631 cities across Russia and 27 supermarkets in Moscow, with a total of approximately 763,145 sq.m of selling space. The average Lenta hypermarket store has selling space of approximately 6,200 sq.m. The Company operates five owned hypermarket distribution centres.
The Company’s price-led hypermarket formats are differentiated in terms of their promotion and pricing strategies as well as their local product assortment. The Company employed approximately 35,100 people as of 31 December 20142 .
The Company’s management team combines a mix of local knowledge and international expertise coupled with extensive operational experience in Russia. Lenta’s largest shareholders include TPG Capital and the European Bank for Reconstruction and Development, both of which are committed to maintaining high standards of corporate governance. Lenta is listed on the London Stock Exchange and on the Moscow Exchange and trades under the ticker: ‘LNTA’.
A brief video summary on Lenta’s business and its Big Data initiative can be seen here.
For further information please visit www.lentainvestor.com, or contact:
Public Relations & Government Affairs Director
Tel: +7 812 363 28 53
Yana Mogileva, PR Manager
Ňel:+7 (812) 336 39 97
Mark Walter and Saule Jandossova
Ňel:+44 (0)20 7457 2020
Ňel:+44 783 767 4444