The Rating Agency of Construction Industry (R.A.C.I.) for the first time ever has upgraded a developerís reliability rating to the highest level. Based on the results of the agency expertsí analysis, LSR Group received the highest rating among Russian developers: A1 category ó "Companies with Excellent (very high) Reliability."
Igor Tsoy, Director of Investor Relations and Sustainable Development, commented: "We have made significant progress when it comes to managing our business processes, growing our KPIs and boosting our financial performance over the past year. The increased reliability rating confirms that we have a strong presence in the market and are moving in the right direction. We are confident and optimistic about the future, and our plan is to build on this success as we continue implementing our business strategy."
Despite significant changes in housing legislation, LSR Group has maintained its reputation as a reliable developer and one of the industry leaders. The R.A.C.I. expert analysis confirmed that LSR Group is able to deliver on its commitments to co-investors and creditors.
The "A" category ratings represent excellent levels of reliability. They are assigned only to companies that maintain extremely high business management standards and demonstrate a strong ability to fulfil obligations to co-investors, as well as in case of a very high probability of completion of objects under construction, and compliance with all transparency requirements in accordance with Federal Law of the Russian Federation No. 214-FZ dated December 30, 2004. The likelihood of such companies being negatively affected by external factors is not substantial.
For more information please contact:
Director of Investor Relations
LSR Group Press Service