S&P Global Ratings affirmed once again LenSpetsSMU ‘B+/B’ global scale and ‘ruA’ national scale ratings, outlook revised to Stable


On June 3 2016, S&P Global Ratings affirmed long term ‘B+’ global scale rating. At the same time rating agency affirmed short term ‘B’ global scale rating and ‘ruA’ national scale rating. Outlook has been revised from Negative to Stable.

The Stable outlook reflects view of the S&P Global Ratings that JSC SSMO LenSpetsSMU consistently maintain prudent liquidity management and sound capital structure that helps to mitigate adverse market conditions in Russia.

The agency notes that JSC SSMO LenSpetsSMU has a track record of refinancing its debt in advance and maintain manageable repayment schedule linked to its operational cycle. Besides the company has no exposure to currency risks because of absence of debt denominated in foreign currency.

According to the agency, competitive position of JSC SSMO LenSpetsSMU is supported by larger size than peer’s and favorable position in St. Petersburg. Also analysts have noted positive track record of completing projects and selling flats and availability to control of all stages of property development that give the company competitive advantage in managing its costs.

S&P Global Ratings affirmed 'B+' and ‘ruA’ issue level rating on LenSpetsSMU’s senior unsecured debt series 02.

S&P Global Ratings updates the information on the levels of credit ratings on the official website of the agency.


The current rating of JSC SSMO LenSpetsSMU is B+ / Stable / B; ruA

LenSpetsSMU is the first Russian construction company to receive and post credit ratings from S&P, the largest and most stringent international rating agency.



The rating as per international scale – ‘B’, outlook – stable, the rating as per national scale – ‘ruA-’ were assigned.


The rating as per national scale was increased from ‘ruA-’ to ‘ruA’.


Long term credit rating was revised from ‘B’ to ‘B+’ with a stable outlook.

The rating as per national scale was increased from ‘ruA’ to ‘ruA+’.


The rating as per national scale was revised from ‘ruA+’ to ‘ruA’

Since 2006 S&P assigned rating to debentures ZAO TSUN (a part of LenSpetsSMU Group) and also issues of bonds of JSC SSMO LenSpetsSMU (one of which (series 02 totaling RUB 5 bn) still in circulation).


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