Credit rating rationale. The issue represents senior unsecured debt of PJSC «LC «Europlan» (hereinafter, Europlan, or the Company). Due to the absence of either structural or contractual subordination of the issue, ACRA regards it pari passu with other existing and future unsecured and unsubordinated debt obligations of the Company. According to ACRA’s methodology, the repayment level of unsecured debt belongs to category II; therefore, the credit rating of the issue is equivalent to that of the Company, i.e. A+(RU).

The credit rating of Europlan is based on the strong assessment of the business profile, capital adequacy, and risk profile, and the adequate funding and liquidity position.

Key issue properties


PJSC «LC «Europlan»

Issuer’s credit rating

А+(RU), outlook Stable

Actual issuer

PJSC «LC «Europlan»

Type of security

Exchange-traded interest-bearing
non-convertible non-certificated bond subject
to centralized title registration, 001P-03 series

Type of debt

Senior unsecured

Issue volume

RUB 7 bln



Placement date

August 20, 2021

Maturity date

August 8, 2031

Offer date

February 19, 2025

Source: ACRA, issuer’s data

Regulatory disclosure

The credit rating has been assigned under the national scale for the Russian Federation based on the Methodology for Assigning Credit Ratings to Individual Issues of Financial Instruments on the National Scale for the Russian Federation and the Key Concepts Used by the Analytical Credit Rating Agency within the Scope of Its Rating Activities.

A credit rating has been assigned to the 001P-03 series bond of PJSC «LC «Europlan» for the first time. The credit rating is expected to be revised within one year following the publication date of this press release.

The assigned credit rating is based on the data provided by PJSC «LC «Europlan», information from publicly available sources, and ACRA’s own databases. The credit rating is solicited, and PJSC «LC «Europlan» participated in its assignment.

In assigning the credit rating, ACRA used only information, the quality and reliability of which was, in ACRA’s opinion, appropriate and sufficient to apply the methodologies.

ACRA provided no additional services to PJSC «LC «Europlan». No conflicts of interest were discovered in the course of credit rating assignment.

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