09.09.2024
Expert RA Rating Agency affirmed credit ratings of Seligdar PJSC and its subsidiary Seligdar Gold JSC at ruA+ with stable outlook.
The credit rating is based on a moderately strong assessment of the industry's risk profile, strong margin indicators, comfortable debt burden, high liquidity assessment, and low level of corporate risk.
The Agency positively assessed the resilience of the Group's industry to external shocks, a 10% increase in gold production, as well as the mineral reserve portfolio. A comfortable level of debt burden was also noted. The Agency stated the qualitative parameters of liquidity, an improvement in the profile of the loan portfolio, which was characterised by an increase in its duration, a comfortable repayment schedule, and the absence of peak payments.
In addition, the Agency positively assessed the block of corporate risks, due to the high quality of its strategic vision and corporate governance, as well as the high level of transparency and risk management. It was also noted that Seligdar adopted a Risk Management Policy and had a collegial risk management body in place; 95% of the Company's fixed assets were insured, which was also positively assessed by the Agency.
The full text of the Expert RA’s press releases on ratings of Seligdar PJSC and Seligdar Gold JSC can be found on its website (in Russian).