Expert RA assigns an expected ruA credit rating to Binnopharm Group’s planned bond issue
02.11.2021
Binnopharm Group, a holding company that combines Sistema’s pharmaceutical assets, announces that the Expert RA rating agency has assigned an expected ruA credit rating (EXP) to the company’s planned RUB 3 bn 001P-01 series bond issue. The securities will be placed under a registered exchange bond programme worth up to RUB 50 bn with a maximum maturity of 15 years.
Previously, in September 2021, Expert RA assigned Binnopharm Group a ruA credit rating with a stable outlook. The agency cited the pharmaceutical market’s resilience against external shocks and the industry's sustainably positive performance in both value and volume terms over the last 15 years as some of the factors behind the rating. Expert RA highlighted Binnopharm Group’s highly diversified product portfolio, comprising over 450 marketing authorisations for medicines, with none of them accounting for more than 5% of the company’s revenue. The agency also noted that the share of the largest buyer in the Group’s revenue does not exceed 10%. The rating agency praised the company's financial performance, pointing to the robust growth rates and low leverage demonstrated by the Group.
Elina Bagautdinova, CFO of Binnopharm Group, commented: “The ruA rating from Expert RA is a testimony to the Company’s solid performance, including growth rates significantly above the market, high margins, and an impressive free cash flow. We remain focused on diversifying our debt portfolio, therefore we are considering the possibility of issuing bonds.”
Previously, in September 2021, Expert RA assigned Binnopharm Group a ruA credit rating with a stable outlook. The agency cited the pharmaceutical market’s resilience against external shocks and the industry's sustainably positive performance in both value and volume terms over the last 15 years as some of the factors behind the rating. Expert RA highlighted Binnopharm Group’s highly diversified product portfolio, comprising over 450 marketing authorisations for medicines, with none of them accounting for more than 5% of the company’s revenue. The agency also noted that the share of the largest buyer in the Group’s revenue does not exceed 10%. The rating agency praised the company's financial performance, pointing to the robust growth rates and low leverage demonstrated by the Group.
Elina Bagautdinova, CFO of Binnopharm Group, commented: “The ruA rating from Expert RA is a testimony to the Company’s solid performance, including growth rates significantly above the market, high margins, and an impressive free cash flow. We remain focused on diversifying our debt portfolio, therefore we are considering the possibility of issuing bonds.”
