The Standard & Poor’s Rating Agency assigned long-term credit rating B with a stable outlook to the Softline Holding Company, Axion Holding Cyprus Limited.
The Agency’s decision is based on a detailed analysis of the company’s business and confirms financial stability of the company, as well as its ability to maintain its competitiveness over the longer term.
“Obtaining a public credit rating is another step in the process of preparation for IPO. The S&P’s opinion confirms the high quality of our business processes and transparency of the Softline. The Agency also takes a favorable view of the company’s development strategy with a focus on services in emerging markets” – Elena Volotovskaya, Softline Vice President Investments, said.
“Obtaining a public rating increases investor confidence in the existing public debt of the company, and will also allow us to go more confident and profitable with new borrowings” – Artyom Tarakanov, Softline Global Financial Director, commented on assignment with the rating.