Moody's upgrades Russian developer LSR to "B1" from "B2", outlook stable
MOSCOW. Aug 10 (Interfax) - Moody's Investors Service, (Moody's) has upgraded the corporate family rating (CFR) of LSR Group , Russia's leading residential real estate developer and building materials supplier, to B1 from B2 and its probability of default rating to B1-PD from B2-PD, te agency said in a statement.
The outlook on all ratings is stable.
"We have upgraded LSR Group's ratings to B1 to reflect our expectation that the company's strong market position, coupled with a healthy financial and liquidity profile, will allow it to weather the challenging market environment and accommodate substantial investment requirements in 2016," said Ekaterina Lipatova, an Assistant Vice President-Analyst at Moody's.
The main factors driving the upgrade to B1 are the company's strong business profile and leading market position, which enhance its resilience to industry cycles; and sustainably strong financial and liquidity profile, Moody's said.