S&P affirms Magnit

S&P said it affirmed its long-term corporate credit rating on PJSC Magnit at BB+.

The outlook is stable.

S&P said the affirmation reflects its expectation that Magnit will maintain above average profitability, despite the current slowdown of revenue growth and like-for-like (LFL) performance. This offsets the moderately weaker cash flow to debt metrics compared to the previous year, in S&P’s view.

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