ACRA affirms M.Video-Eldorado Group rating at A+(RU) with stable outlook

10.03.2022 18:08

M.Video-Eldorado Group, Russia’s leading e-commerce and consumer electronics retailer (MOEX: MVID), reports that the Analytical Credit Rating Agency (ACRA) has affirmed the Company’s current A+(RU) rating, outlook stable. ACRA assigned the credit rating to PJSC in 2021.

According to ACRA, the A+(RU) rating is based on a strong market position of M.Video-Eldorado Group and its proven business track record, with the Group’s online sales reaching an impressive 70% of the GMV in 2021. “Well-developed online platform and infrastructure afford the Group flexibility in adapting to market shocks,” says the agency’s press release.

Furthermore, ACRA notes “a very high level of corporate governance” as “M.Video-Eldorado Group successfully implements a systematic long-term development strategy and has well-established corporate governance practices.”

M.Video-Eldorado Group also boasts a ruA+ rating (outlook stable) from Expert RA, which was assigned to the Group in 2021 under a new methodology (the 2020 rating was ruA- with a positive outlook).