ACRA, a leading rating agency, affirmed ALROSA’s credit rating at AAA(RU) with a stable outlook. The agency also affirmed rating of the company’s bond issues at AAA(RU).
Very strong assessment of the operational risk profile reflects ALROSA’s leading global position in diamond production and ample resource base, its dominant global positions, exceptional profitability, low leverage, high debt coverage, and sizable liquidity.
ACRA also highlights ALROSA’s position as a major employer and the largest taxpayer in the Republic of Sakha (Yakutia) with high business profitability and strong resource base: given ALROSA’s current production volumes, its proven resources will last for more than 30 years of its operations.
The agency also highly assesses ALROSA’s corporate governance. This underscores a strong management practices, an effective risk management system, and high financial transparency.
“A respected rating agency affirms ALROSA’s high financial resilience at any point of the cycle,” said Pavel Marinychev, ALROSA CEO. “This stems from our unique combination of high-quality assets, efficient production, and a strong team of 35,000 plus like-minded people who work in our company. ACRA rating is highly appreciated by our shareholders, partners and the entire financial community.”
The full version of the ACRA press release is available on the rating agency’s website.