Page 90 - RUSRptApr17

The Prosveshenie (Enlightenment) publishing and education holding controlled by Russian businessman Arkady Rotenberg, a close friend of President Vladimir Putin, is planning an IPO in 2017- 2019, Vedomosti daily reported on April 19, citing the company's head Vladimir Uzun. Prosveshenie is one of many assets controlled by Rotenberg, who has for many years topped the lists of state contractors and benefactors of state procurements. The holding is considering either Moscow Exchange or the London Stock Exchange for the offering, while consulting "leading international and Russian banks", Uzun said. The holding increased its net profit by 30% in 2016 to RUB4.4bn (€73.5mn), with revenues up by 15% to RUB12.7bn. The number of copies printed by the publishing house grew by 15% to 79.1mn. The main buyers of the publisher of educational literature are federal and regional education institutions, as well as private ones. In 2016, the state and consumers spent RUB24bn on buying schoolbooks, according to Vedomosti .
8.4 International ratings
RUSSIA - Rating agency
March 2016
June 2016
March 2017
Bond rating: Moodys
Ba1 (N)
Ba1 (N)
Ba1 (N)
Bond rating: Fitch
BBB- (N)
BBB- (N)
BBB- (S)
Bond rating: S&P
BB+ (N)
BB+ (N)
BB+ (P)
The risk rating agency IHS Markit has upgraded Russia’s sovereign risk to investment grade on the back of growing economic recovery and strong manufacturing and service sector growth.
The company, which also produces the IHS Markit PMI indices, says that swift policy action to deal with the downturn has delivered better state finances and supported the new shoots of growth that has at the same time been underscored by modest rebound in commodity prices in oil and metal.
“Russia, along with other commodity exporters, has suffered under the commodity crash with finances deteriorating and growth evaporating,” IHS Markit said in a press release. “However, swift remedial policy actions and a modest rebound in commodity prices has enabled Russia to regain the lowest investment grade status, according to IHS Markit a world leader in critical information, analytics and solutions.”
The company released its manufacturing, service and composite PMI numbers for March all of which point to growing economic momentum.
Russian manufacturing continues its strongest expansion since 2011 in March with the Markit PMI score of 52.4, almost the same as the previous month’s 52.5, while positive sentiment amongst Russian manufacturers reached a 22-month high.
The service sector has been doing even better and has lead Russia’s economy out of recession. The services PMI was up to 56.6 in March well above the 55.5 from the month before and has consistently been higher than the 50 no-change benchmark since January 2016.
90 RUSSIA Country Report April 2017 www.intellinews.com