Standard & Poor’s affirmed credit ratings with respect to the series 02 CJSC SSMO LenSpetsSMU bond-secured loan

12.02.2016

On 11 February 2016, Standard & Poor's affirmed 'B+' (international scale) and 'ruA' (national scale) issue level rating with respect to the series 02 CJSC SSMO LenSpetsSMU bond-secured loan (state registration number 4-02-17644-J).

Additionally Standard & Poor's withdrew recovery ratings because of a change in analytical approach to assigning issue ratings in jurisdictions classified in Group C (Russia, Kazakhstan, and Ukraine); therefore rating agency withdrew the recovery ratings assigned to the debt instruments of 29 Russian, Kazakh, and Ukrainian companies, including CJSC SSMO LenSpetsSMU bonds series 02 recovery rating.

REFERENCE:

The series 02 CJSC SSMO LenSpetsSMU bond-secured loan (state registration number 4-02-17644-J dated 20 November 2012), totaling RUB 5.0 bn, was placed on 18 December 2012 for a term of 5 years without any offer (put-option), and with an amortized repayment schedule and quarterly coupons at the amount of 12.9% per annum.

As of 16 January 2013, trading commenced on the MICEX Stock Exchange for the circulation of series 02 CJSC SSMO LenSpetsSMU bonds.

In February 2013, series 02 CJSC SSMO LenSpetsSMU bonds were added to the Bank of Russia’s Lombard list. Aside from the Lombard list, series 02 CJSC SSMO LenSpetsSMU bonds are included on the list of securities cleared as security under direct REPO trades.

In June 2014 series 02 CJSC SSMO LenSpetsSMU bonds were transferred to the Level 1 (the highest) of the updated List of Securities admitted to trading on CJSC MICEX Stock Exchange according to Moscow Exchanges new listing rules which came into effect on 9 June 2014.

The arrangers of the loan are JSC Alfa-Bank, PJSC Promsvyazbank and PJSC Raiffeisenbank. NSD CJSC NRD, as the depositary administering the mandatory centralized storage of the certificate of issue for series 02 CJSC SSMO LenSpetsSMU bonds, is responsible for the transfer of bond payments to its depositors.

CONTACT DETAILS:

Savchuk Ksenija Valer'evna

Head of Public Relations

+7(812) 348-21-25, e-mail: Kseniya.Savchuk@etalongroup.com

Yana Yashchenko

Deputy CFO

+7(812) 349-38-40, e-mail: Yana.Yashchenko@etalongroup.com