Expected credit rating withdrawal rationale. The expected credit rating of P01-BO-1 bond of LLC “STLC-1520”, a subsidiary of PJSC “STLC” (STLC), has been withdrawn because its validity period has expired and ACRA has received no updated information on the planned bond issue. Before withdrawal, the bond was rated by ACRA at eA+(RU), which is equivalent to the credit rating of category II recovery senior unsecured debt of PJSC "STLC", who acts as a guarantor for the bond issue.

Regulatory disclosure

The expected credit rating of series P01-BO-01 bond of LLC “STLC-1520” was assigned under the national scale for the Russian Federation based on the Methodology for Assigning Credit Ratings to Individual Issues of Financial Instruments under the National Scale for the Russian Federation, and the Key Concepts Used by Analytical Credit Rating Agency within the Scope of Its Rating Activities.

The expected credit rating of series P01-BO-01 bond of LLC “STLC-1520” was first published by ACRA on November 29, 2019.

The expected credit rating was based on the data provided by PJSC “STLC”, information from publicly available sources, and ACRA’s own databases. The expected credit rating was solicited, and PJSC “STLC” participated in its assignment.

No material discrepancies between the provided information and the data officially disclosed by PJSC “STLC” and LLC “STLC-1520” in their financial statements have been discovered.

ACRA provided no additional services to PJSC “STLC” and LLC “STLC-1520.” No conflicts of interest were discovered in the course of expected credit rating assignment.

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