OREANDA-NEWS. 'Expert RA' rating agency upgraded 'Obuv'rus' series 01 bond issue reliability rating to А+ . The bond issue used to have rating A.

The rating was upgraded due to high growth rates of the Group assets against the background of steadily high profitability, as well as the successful offer procedure as part of the initial bond issue.

High liquidity, capital growth, high capital adequacy, and high insurance coverage quality had a positive impact on ratings of the companies.

High dependence of the product demand on the economic cycle phase, negative market prospects in connection with Russia's WTO accession, high competition in the middle price range of the footwear industry where the Company operates, the low entry threshold for new market players, as well as the Group's increased exposure to credit risks in connection with retail installment trading in footwear were highlighted among the rating-restraining factors.