The Russian Analytical Credit Rating Agency (ACRA) assigned JSC INK-Capital a high credit rating of AA (RU) with a "Stable" outlook.

This is the first time that JSC INK-Capital has been assigned this credit rating. The rating agency raised the company's rating by two notches at once. The "Stable" outlook implies a high probability that the rating will remain unchanged over a 12-18 month horizon.

"The credit rating upgrade from ACRA is a well-deserved recognition of our achievements in managing financial stability, profitability, and business diversification. Today, the company is completing a large-scale investment program to build gas chemical cluster facilities in Eastern Siberia and is moving on to the stage of operating new production facilities and increasing productivity in key areas of activity. We are focusing on the efficient use of all types of resources in the short term and see good potential for this," said Yakov Ginzburg.

The credit rating of JSC INK-Capital is based on a strong assessment of its operational risk profile, the large size of the company's business, very high profitability, strong liquidity, very low debt burden, and a very high level of interest coverage.

The strong operational risk profile is due to the average assessment of the company's market position, very strong business profile, strong assessment of geographical diversification, and high assessment of corporate governance.

The high assessment of the company's business profile is due to low production costs, large hydrocarbon reserves, and business diversification, including polymer production at the Irkutsk Polymer Plant. The company's strong geographic diversification is linked to its broad access to sales markets and the favorable location of its production assets near Southeast Asian markets.

The high corporate governance rating reflects effective strategy, governance structure, risk management, and financial transparency. In addition, the company has low debt levels and a strong ability to service its debt.

The credit rating of JSC INK-Capital was assigned on the national scale for the Russian Federation based on the Methodology for Assigning Credit Ratings to Non-Financial Companies on the National Scale for the Russian Federation, as well as the Basic Concepts Used by the Analytical Credit Rating Agency in its Rating Activities. The credit rating was assigned based on data provided by JSC INK-Capital, information from open sources, and ACRA databases.

ACRA has assigned JSC INK-Capital a high credit rating of AA (RU)