ACRA has retained its moderate assessment of the Company’s financial risk profile. Leverage is still low amid medium coverage of interest payments. The liquidity assessment is constrained by the peak repayment period scheduled for 2024, when all of the Company’s debt must be repaid.

SFI is a holding company whose key assets include PJSC «LC «Europlan» (hereinafter, Europlan) and VSK Insurance House (hereinafter, VSK). The Company holds stakes in PJSC «M.Video» and PJSC «RussNeft» via a sub-holding company.

The Stable outlook assumes that the rating will highly likely stay unchanged within the 12 to 18-month horizon.

The credit rating of PJSC «SFI» was published by ACRA for the first time on June 15, 2021.