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AFK Sistema
Net Asset Value • Mar 14, 2022
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Net Asset Value
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National Storage Mechanism | Additional information
Sistema PJSFC (SSA)
Sistema PJSFC: Rating action by Fitch
14-March-2022 / 11:30 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Moscow, Russia - 14 March 2022 - Sistema PJSFC ("Sistema") notes the announcement by Fitch Ratings regarding the downgrade of Sistema's long-term foreign-currency issuer default rating from B (rating watch negative) to CC. The rating action follows the agency's downgrade of Russia's sovereign ratings on 8 March 2022 to C (see 'Fitch Downgrades Russia to 'C' at www.fitchratings.com) and reflects opinion of the Agency, that new restrictions may impair the Russian companies' ability to service debt. Sistema maintains a robust financial position and comfortable leverage, as demonstrated in its financial statements for Q3 2021. The corporate center's debt portfolio is fully denominated in local currency.
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Sistema PJSFC is a publicly traded Russian investment company with a diversified portfolio of assets serving over 150 million customers in the sectors of telecommunications, high technology, financial services, retail, paper and packaging, agriculture, real estate, tourism and medical services. The company was founded in 1993. Revenue in 2020 was RUB 691.6 billion; total assets equalled RUB 1.4 trillion as of 31 December 2020. Sistema's global depositary receipts are listed under the "SSA" ticker on the London Stock Exchange. Sistema's ordinary shares are listed under the "AFKS" ticker on Moscow Exchange. Website: www.sistema.com.
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For further information, please visit www.sistema.com or contact:
| Public Relations Sergey Kopytov Tel.: +7 (495) 730 17 05 [email protected] |
Investor Relations Sergey Levitskiy Tel: +7 (495) 730 66 00 [email protected] |
This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares or other securities of PJSFC Sistema and/or any of its subsidiaries and affiliated companies, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the shares or securities of PJSFC Sistema and/or any of its subsidiaries and affiliated companies.
| ISIN: | US48122U2042 |
| Category Code: | MSCM |
| TIDM: | SSA |
| LEI Code: | 213800JSZ2UUK4QQK694 |
| Sequence No.: | 148663 |
| EQS News ID: | 1301153 |
| End of Announcement | EQS News Service |