Moscow, September 28, 2017- The Analytical Credit Rating Agency (ACRA) assigned PJSC "PIK Group" a credit rating at the level of BBB+(RU). The forecast is "stable", which means a high probability of maintaining the rating at the same level in the mid-term.

The agency notes the strong business profile of PIK, due to the high diversification of the portfolio of projects, sustainable project implementation schedules, strong brand and high consumer characteristics of the projects on sale.

In addition, the agency refers to the high profitability of the business, related to the ability of the Group to fulfill sales plans at relatively low cost and high rates of construction of panel housing as the factors that had a positive impact on the rating.

ACRA experts also noted strong cash flow and liquidity indicators of the company, which are provided by the ability to accumulate a significant amount of free cash, new adapted dividend policy and the plans for decreasing leverage.

The BBB+(RU) credit rating makes PJSC " PIK Group" bonds eligible for inclusion into the Lombard List of the Central Bank of the Russian Federation.

“Obtaining the ACRA rating is an important step considering full recognition of the agency's methodology by the Central Bank and the well-known conservative approach of the agency. At the same time, currently our company has the highest ACRA credit rating among the Russian developers" said Alexander Prygunkov, vice-president of PIK Group.

About PIK Group of Companies:

PIK Group was founded in 1994 and today is the leading residential real estate developer in the Moscow Metropolitan Area and in Russia as a whole. The Company is present in nine regions of Russia with an extensive project pipeline focused on the lucrative Moscow Metropolitan Area. The Company has a proven track record with about 16 million sqm of residential real estate built since inception (0.9 million sqm in 2016).

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