ACRA withdraws the credit rating of (RU000A100H02) bond issued by PJSC Magnit in view of its redemption

Credit rating withdrawal rationale

The withdrawal of the credit rating of the (RU000A100H02) bond issued by PJSC Magnit is due to the full redemption of this bond issue on December 24, 2020. Before the withdrawal, the credit rating of the bond issue was affirmed at AA(RU), i.e. on par with the credit rating of PJSC Magnit. The rating has been withdrawn without its concurrent affirmation.

Regulatory disclosure

The credit rating was previously assigned to the (RU000A100H02) bond issued by PJSC Magnit under the national scale for the Russian Federation based on the Methodology for Assigning Credit Ratings to Individual Issues of Financial Instruments on the National Scale for the Russian Federation, and the Key Concepts Used by the Analytical Credit Rating Agency Within the Scope of Its Rating Activities.

The credit rating of the (RU000A100H02) bond issued by PJSC Magnit was published by ACRA for the first time on September 23, 2019.

The credit rating was assigned based on the data provided by PJSC Magnit, information from publicly available sources, as well as ACRA’s own databases. The credit rating is solicited, and PJSC Magnit participated in its assignment.

No material discrepancies between the provided data and the data officially disclosed by PJSC Magnit in its financial statements have been discovered.

ACRA provided no additional services to PJSC Magnit. No conflicts of interest were discovered in the course of credit rating assignment.

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