Expert RA has raised the creditworthiness rating of the non-financial company Selectel

AK&M 24 November 2022 18:16

On November 24, 2022, the Expert RA rating agency upgraded the creditworthiness rating of the non-financial company Selectel LLC to the level of ruA+ and established a stable outlook. Previously, the company had a rating at the level of ruA with a positive outlook. This is stated in the agency's message.

Selectel LLC provides services for the creation of private and public cloud services and places server equipment in its own data centers for all types of clients: from individual entrepreneurs to large international companies. The company has been operating in the IT services market for 14 years, it manages 4 data center sites in Moscow, St. Petersburg and the Leningrad Region, entering the top 5 in terms of total capacity of data centers in Russia.

The rating upgrade is due to a reduction in the level of debt burden below the forecasted indicators last year and a further decrease in metrics, in particular, the debt-to-EBITDA LTM ratio of less than 2x. The agency notes that the company managed to keep the percentage load at a comfortable level, as well as maintain a high marginality of the business despite the risks of supplies and rising prices of equipment and components after the sanctions imposed.

According to IFRS reporting, the assets of Selectel LLC as of 30.06.2022 amounted to 10.7 billion rubles, capital – 2.4 billion rubles. Revenue for the period 30.06.2021-30.06.2022 amounted to 6.2 billion rubles, net profit – 0.7 billion rubles.