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 as pari passu to 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 Europlan, 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

Issuer

PJSC «LC «Europlan»

Issuer’s credit rating

А+(RU), outlook Positive

Actual issuer

PJSC «LC «Europlan»

Type of security

Exchange-traded interest-bearing non-convertible uncertificated bond subject to centralized title registration, 001P-05 series

Type of debt

Senior unsecured

Issue volume

RUB 5,5 bln

ISIN

RU000A105518

RegS

4В02-05-16419-А-001Р

Placement date

August 31, 2022

Amortization date

November 27, 2024

Maturity date

August 27, 2025

Sources: 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-05 (RU000A105518) 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 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 were, 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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