Yandex Announces Debut Credit Rating from a Russian Credit Rating Agency ACRA
Moscow, Amsterdam, January 20, 2022 – Yandex (NASDAQ and MOEX: YNDX), one of Europe’s largest internet companies and the leading search and ride-hailing provider in Russia, today announced that the Russian credit rating agency ACRA has assigned Yandex a first-time long-term issuer credit rating of ‘АA+(RU)’ with a Stable Outlook. According to ACRA’s published report, the key rating drivers included, among others, Yandex’s leading position in number of the key markets (including search, digital advertising, ride-hailing, e-grocery, video-on-demand and others), high level of revenue diversification and integration of services within the ecosystem, which all are important competitive advantages vs peers and support stable cash flow generation, as well as strong corporate governance standards, solid financial position (low leverage) and high liquidity.
More information regarding Yandex’s ACRA rating assignment can be found on ACRA website at: https://www.acra-ratings.ru/
Together with the current rating from ACRA, Yandex has three high credit ratings, including investment level ‘BBB’ with a Stable Outlook from Fitch and ‘BBB-’ with a Stable Outlook from S&P Global Ratings.
Yandex (NASDAQ and MOEX: YNDX) is a technology company that builds intelligent products and services powered by machine learning. Our goal is to help consumers and businesses better navigate the online and offline world. Since 1997, we have delivered world-class, locally relevant search and information services, navigation products, while also expanding into e-commerce, online entertainment, cloud computing and other markets to assist millions of consumers in Russia and a number of international markets. Yandex, which has over 30 offices worldwide, has been listed on NASDAQ since 2011 and on Moscow Exchange since 2014.
More information on Yandex can be found at https://yandex.com/company/.
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