S&P changes Leader Invest view

S&P said it revised its outlook on Leader Invest JSC to positive from negative and affirmed its B/B long- and short-term issuer credit ratings.

The agency said the revision reflects Leader's progress in lengthening its debt maturity profile and improving its liquidity position.

Leader signed a six-year loan agreement with a Russian bank for RUB 14.6 billion.

The company also issued a RUB 5 billion five-year bond with a put option in February 2021 and used proceeds to materially reduce its short-term debt, including partial repayment of the RUB 3 billion bond that has a put option in June 2018.

“The company's average debt maturity has increased to more than two years as a result,” S&P said in a news release.

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