S&P gives Sunway B-, ruBBB

Standard & Poor's said it assigned its B- long-term corporate credit and ruBBB Russia national-scale ratings to Brand Development Inc., which operates under the name of its subsidiary, Sunway Group.

The outlook is stable.

The ratings are constrained by the group's exposure to the commodity-based fresh produce industry, which is compounded by its limited size, lack of geographic diversification, heavily leveraged financial profile and weak liquidity, the agency said.

These risks are moderated by sound growth potential in Russia's fruit market and Sunway's leading market share, diversified product range, increasing profitability and rising proportion of sales to retail chains, the agency noted.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.