​Amsterdam, 11June 2020 - X5 Retail Group N.V. ('X5' or the 'Company'), a leading Russian food retailer that operates the Pyaterochka, Perekrestok and Karusel chains (LSE and MOEX ticker: 'FIVE'), announces that S&P Global Ratings ('S&P') has upgraded the Company's credit rating to BB+ from BB. The outlook is 'Stable'.

S&P stated that the upgrade reflects X5's strong operating performance, reduced capital expenditure and lower interest rates.

X5 Chief Financial Officer Svetlana Demyashkevich said: 'The S&P credit rating upgrade affirmsX5's high credit quality and strong busin​ess profile, especially given the current environment. We are particularly pleased to note that this is the only credit rating upgrade in Russia since the start of the COVID-19 pandemic. This is a great achievement for our team and for X5 as a whole.'​

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X5 Retail Group NV published this content on 11 June 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 June 2020 06:37:08 UTC