The rating downgrade by one notch was expected, the main pressure on the rating, in our estimate, comes from the high probability of put options on the BO-01 and BO-02 issues in the spring of 2021
We expect the rating to recover from the put options next year, as well as the continuing recovery in the company’s revenue.
Press release from Expert RA: raexpert.ru/releases/2020/dec31/
Obuv Rossii press release: obuvrus.ru/press_center/press_releases/46863/
Bonds and shares of Obuv Rossii Group of Companies are included in PRObonds portfolios by 11-11.5%