OREANDA-NEWS. Agri-business holding Miratorg, lead operator of meat market, informs that international rating agency Fitch Ratings confirmed long-term issEUR default rating on the level “B” and reviewed rating outlook from “positive” to “stable”.

The agency also increased national long-term rating of the holding from “BBB”(rus) to “BBB+(rus)”.

Miratorg is realizing long-term diversification strategy within the framework of vertically-integrated business model “from field to counter”. Control of the whole chain, from grain crops and feed production to far-reaching distribution network, provides the company competitive advantage, which lowers business risks.

Fitch remarks, that review of the rating outlook to “positive” reflects agency's expectations regarding positive and powerful money flow and relevant decrease of debt load.

The Holding started vertically-integrated production of broilers meat with the capacity of 100 thousand tons per a year in the first quarter of 2014 and plans to start Cattle slaughter and processing plant with the capacity of 130 thousand tons of products in the second half of 2014.

"Improvement of Miratorg's rating outlook within the current market conditions proves that holding's strategy aimed to increase and diversify production, increase efficiency and decrease expenses, is correct. Active cooperation with partner banks provides favorable conditions to realize ambitious investment projects. Best in the industry financial and operational indexes reflect production growth and guarantee fulfillment by the Holding, which is biggest investor into Russian agricultural sector, all its obligations “, - ABH Miratorg vice-president Vadim Kotenko said.