02.12.2022
Rating agency NCR (National Credit Ratings) affirmed the credit rating of Seligdar PJSC at A+.ru with stable outlook.
The assessment of the business profile is determined by the global nature of the gold and tin markets, high liquidity and demand for finished products and pegging of their prices to the prices on world commodity exchanges.
The high estimate of the business profile was supported by significant gold reserves in Yakutia, Buryatia, Orenburg and Altai regions, as well as by large tin reserves in Khabarovsk region and Chukotka.
According to NCR, strong operating margins and comfortable debt service coverage ratios positively influenced the estimate of the financial profile.
The Agency also noted that long history of exchange listing, high quality of governance and strategic planning, transparency in financial reporting, good credit history and financial discipline positively influenced an estimate of the “Management and beneficiaries” factor.
The full text of the NCR press release is available on its website (in Russian).