Fitch revises Lenta view to positive

Fitch Ratings said it revised the outlook on Lenta LLC’s long-term foreign- and local-currency issuer default ratings to positive from stable and affirmed the IDRs and senior unsecured rating at BB.

“The positive outlook is driven by the significant deleveraging that Lenta had achieved by June 2020, reflecting our expectation that the company would maintain a much more conservative capital structure in 2021-2023 in the absence of material (debt-funded) M&A spending. The ratings’ trajectory will be clarified by the anticipated update of the group’s medium-term strategy and capital policy in 1H21, following the change in shareholding structure in 2019,” Fitch said in a press release.

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