Page 120 - RusRPTApr21

standards have reshaped Russia’s retail segment. Also of note in Fix Price’s
IPO was the increased interest by American investors, who haven’t recently
engaged much with Russian companies outside of the tech sector. U.S.
investors reportedly purchased about 40% of the company’s offering, UK
investors purchased 30%, and Russian investors purchased 10%. Fix Price’s
stock has remained
Moscow and London.
roughly flat
since trading began March 11 in
Arkady Volozh, a co-founder and head of Russian Internet company Yandex, and his family trust Lastar Trust will sell 29,180 shares of Class A of the company, Yandex said on March 1 in a statement. As of the closure of trading on the Moscow Exchange on February 26, the stake can be valued at about 140mn rubles. Volozh directly owns 29,180 shares of Class A. Lastar Trust holds 30.8mn shares of Class B. Their total share amounts to 8.7% of Yandex’s capital and 45.5% of votes.
8.4 International ratings
Russia - Rating agency
as of Januaary 1, 2021
last change
Moodys (USD rating)
Baa3 (S)
02/08/19
Fitch (USD rating)
BBB (N)
09/08/19
S&P
BBB- (S)
23/02/18
Russia’s credit ratings have been improving and all three ratings agencies have returned Russia to “investment grade” status (BBB- or more by S&P and Fitch, Baa3 by Moody’s).
Moody’s rates Russia at Baa3 with stable outlook on both its foreign and local currency debt.
Moody’s last upgraded Russia from Ba1 (Positive) in January 2018 as the economy started to emerge from several years of recession. The lowest rating the country had was B3 in August 2008 following the collapse of the ruble that year and technical default on the GKO state treasury bills. The highest the country has scored was Baa1 in March 2013 as economy bounced back from the 2008 crisis.
Fitch rates Ukraine at BBB- on both its foreign and local currency debt with no outlook indicated.
Fitch has been a lot more upbeat on Russia and has consistently ranked if with
120 RUSSIA Country Report April 2021 www.intellinews.com