Media

Rating agency National Credit Ratings (NCR) affirmed credit rating of Seligdar PJSC at A+.ru with stable outlook.

The result of the business profile assessment is determined by the global nature of the markets of presence: gold and tin markets; high liquidity of finished products and dependence of their prices from prices on world commodity exchanges. The business profile assessment is backed by significant gold reserves in Yakutia, Buryatia, the Orenburg and Altai regions, as well as by tin reserves in the Khabarovsk region and Chukotka.

The Agency noted a reduction in the Company's debt load by a quarter over the 12-month period ending June 30, 2024; while a significant share of loans and bonds denominated in gold in the debt structure allows minimizing price and currency risks. Strong liquidity metrics and moderate operating margins and debt service metrics determine assessment of the financial profile.

The Agency also noted that long-term history as a publicly traded company, high quality of governance and strategic planning, transparency in financial reporting, good credit history and financial discipline positively influenced the assessment result of the “Management and beneficiaries” factor.

The full text of the NCR press release is available on its website (in Russian).