S&P shifts PIK view to positive

S&P said it revised the outlook for JSC PIK Group to positive from stable and affirmed its B+ rating on the company.

“We revised the outlook on PIK to positive on our assessment that PIK’s leading position in the Russian development market, increasing diversification of revenue sources, and moderately improving EBITDA margin would mitigate PIK’s expected leverage increase from new project finance debt for construction financing as now required by Russian regulation,” said S&P in a press release.

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