S&P affirms Pyaterochka

Standard & Poor's Ratings Services said its ratings and outlook on Pyaterochka Holding NV (BB-/negative/Russia national-scale ruAA-) were not affected by the company's announced $200 million acquisition of OOO Metronom AG.

The size of the acquisition is within the boundaries of S&P's expectations for the company's capital expenditure and acquisition program for this year.

Because a strong increase in cash flow generation will be necessary to improve Pyaterochka's aggressive financial risk profile, S&P said it will continue to monitor the company's performance as a whole, including progress in integrating the newly acquired assets.

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