Fitch Ratings affirms O`KEY rating

The Long-term foreign and local-currency Issuer Default Rating (IDRs) is affirmed at ‘B+’. The outlook on the rating is Stable. 

COMPANY OVERVIEW

 O’KEY Group S.A. (LSE: OKEY, Fitch – ‘B+’) is one of the largest retail chains in Russia. The Company operates under two main formats: hypermarkets under “O’KEY” brand and discounters under the “DA!” brand. As of January 16, 2018, the Group operates 145 stores across Russia. The Group opened its first hypermarket in St. Petersburg in 2002 and has since demonstrated continuous growth. O’KEY is the first among Russian food retailers to launch and actively develop e-commerce operations in St. Petersburg and Moscow offering a full range of hypermarket products for home delivery. The Company operates 4 distribution centers across the Russian Federation. For the full year 2016, revenue totaled RUB 175,470,671 ths, EBITDA reached RUB 9,253,206 ths, and net loss for the period amounted to RUB 137,790 ths. O’KEY shareholder structure is as follows: NISEMAX Co Ltd – 50.95%, GSU Ltd – 29.52%, free float – 19.53%.

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