OREANDA-NEWS. July 20, 2012. Fitch Ratings has affirmed Agribusiness Holding Miratorg LLC's (Miratorg) Long-term foreign and local currency Issuer Default Ratings (IDRs) at 'B' and its National Long-term rating at 'BBB(rus)'. The Outlooks are Stable. Fitch has also affirmed the senior unsecured rating of 'B-', its Recovery Rating of 'RR5' and local currency senior unsecured National rating at 'BB(rus)' for the RUB3bn three-year notes due in July 2014 issued by LLC Miratorg Finance.

Miratorg's Long-term IDRs reflect the group's vertically-integrated business model across the value chain in all stages in the production cycle from farming and feed production towards almost full control of the distribution function. This is a strong competitive advantage over most local producers. Miratorg enjoys strong positions in all key meat markets (beef, pork and poultry).

"Confirmation of Miratorg rating in the current market environment – it is not only the acknowledgement of stable and dynamic growth of financial and production indexes of the Holding, but the high appreciation of the  company’s implementation of  strategic plans to expand the production of all three main types of meat: pork, beef and poultry "- ABH Miratorg CFO Vadim Kotenko pointed it out.