ACRA says affirms Yandex NV rating at AA+(RU), Stable outlook

MOSCOW, Jan 19 (PRIME) -- Russia’s Analytical Credit Rating Agency (ACRA) has affirmed the credit rating of Amsterdam-based Yandex N.V., the parent company of Internet giant Yandex, at AA+(RU) with a Stable outlook, the agency said on Thursday in a statement.

“The credit rating of Yandex N.V. is based on its very strong business profile. The company has created an ecosystem that offers a wide range of complementary services, which allows it to diversify revenues in various areas,” ACRA said.

“The company maintains leading positions both among other ecosystems and in its markets of presence. The agency notes that the company maintains very strong corporate governance practices.”

The financial risk profile assessment of Yandex was improved over higher funds from operations before fixed payments and taxes, which led to higher assessments of the company’s size and profitability.

Yandex continues to have low leverage and medium coverage of financial payments, as well as very high liquidity, ACRA added.

End