CREDIT RATING WITHDRAWAL RATIONALE
The credit rating of the series 003P-01 (RU000A109JH1) bond issue of X5 FINANCE LLC has been withdrawn due to the full redemption of this issue on August 18, 2025. Before the withdrawal, in accordance with ACRA’s methodology, an AAA(RU) credit rating was affirmed to the bond issue, i.e. on par with the credit rating of PJSC X5 Corporate Center. The rating has been withdrawn without its concurrent affirmation.
REGULATORY DISCLOSURE
The credit rating of the series 003P-01 (RU000A109JH1) bond issue of X5 FINANCE LLC was previously assigned under the national scale for the Russian Federation based on the Methodology for Assigning Credit Ratings to Financial Instruments under 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.
The credit rating of the series 003P-01 (RU000A109JH1) bond issue of X5 FINANCE LLC was published by ACRA for the first time on November 20, 2024.
The credit rating was assigned based on data provided by PJSC X5 Corporate Center, information from publicly available sources, and ACRA’s own databases. The credit rating is solicited and PJSC X5 Corporate Center 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 X5 Corporate Center. No conflicts of interest were discovered in the course of credit rating assignment.
