ACRA takes positive outlook on Cherkizovo’s credit rating
Moscow, Russia – August 24 – Cherkizovo Group (MOEX: GCHE), Russia's largest meat producer, announces that the Analytical Credit Rating Agency (ACRA) has affirmed the Company’s A+(RU) credit rating and revised its outlook from stable to positive.
ACRA cited Cherkizovo’s commissioning of the oil extraction plant (OEP) as the basis for the outlook upgrade. The Agency believes the plant will improve the Group’s vertical integration and profitability. On top of that, it will considerably decrease the impact of price fluctuations on the main cost items.
ACRA noted that the current A+(RU) rating is based on Cherkizovo’s robust business profile that is undergirded by strong vertical integration and well-diversified product offering. “Cherkizovo Group’s financial profile is shaped by high returns and high liquidity, with the leverage kept at a comfortable medium,” says the Agency’s press release.
Other news
Petelinka takes to the ice on the country’s main skating rink!
Petelinka, one of Cherkizovo Group’s flagship brands and the best-selling chicken product, has entered into partnership with the iconic GUM Ice Rink, which opens annually on Red Square. This year, visitors will have an opportunity to take a break in the cozy Petelinka cottage and take photos next to a Christmas tree standing on chicken legs.
Cherkizovo employees join efforts to support stray animal shelters in Moscow
Cherkizovo Group employees have held a volunteer event supported by the Ray Foundation for Helping Homeless Animals. They brought food, medicines and other useful supplies to two Moscow shelters and helped with dog walking.
Petelinka and Pava-Pava win Product of the Year awards
Cherkizovo Group’s chicken and turkey products have once again been awarded the annual Product of the Year title, with flagship brands Petelinka and Pava-Pava winning two categories of the award.
Cherkizovo Group unveils its products at international exhibition in Ufa
Cherkizovo Group, Russia's largest meat producer, is taking part in Our Brand, an international food festival in Ufa. The Company showcased its products during a tasting session at its stand.