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Press-releases

29.11.2011

S&P affirms HMS Group corporate rating at BB-

Moscow, Russia – HMS Group (LSE: HMSG) today announces that Standard & Poor's Ratings Services affirmed the long-term corporate rating of the Group at BB- with a stable outlook. This reflects agency`s view that HMS Group should continue to benefit from strong market demand in Russia, renew its order backlog, and maintain its adjusted EBITDA margin at the mid-teens level. By confirming the existing rating the agency acknowledges that the HMS Group would retain the technological advantage and customer relationships that support its leading position in the Russian pump market.

At the same time S&P assigned 'B+' issue rating and 'ruA+' Russia national scale rating to proposed Russian ruble (RUB) 3 billion bond, to be issued by one of the Group`s subsidiaries- CJSC Hydromashservice. Bonds issue of 'B+' rating level could be included in the Lombard list of CBR and used as collateral for REPO transactions.
The proceeds of the prospective issuance could be used by the Group to finance its ambitious business expansion program.

***

The HMS Group is the leading pump manufacturer and provider of flow control solutions and related services to the oil and gas, nuclear and thermal power generation and water utilities sectors in Russia and the CIS. The HMS Group’s products are mission-critical elements of projects across a diverse range of industries. It has participated in a number of large-scale infrastructure projects in Russia, including providing pumps and modular equipment to the Vankor oil field and pumping stations on recent trunk pipelines projects linking Russia’s core oil producing areas to export ports on the Pacific Ocean and Baltic Sea. The Group reported revenues of RUB 13.9 billion, adjusted EBITDA of RUB 3.1 billion and profit of RUB 2.1 billion for the half year ended June 30, 2011. The HMS Group’s global depositary receipts (“GDRs”) are listed under the symbol “HMSG” on the London Stock Exchange.


For further information, please contact:

Sergey  Klinkov    
Head of IR
Tel: +7 (495) 730-66-01, ext. 1302
klinkov@hms.ru

 

Nozima Karimova
Head of Press Service
Tel: +7 (495) 730-66-10
karimova@hms.ru


DISCLAIMER


THIS COMMUNICATION DOES NOT CONSTITUTE AN OFFER OF, OR THE SOLICITATION OF AN OFFER TO BUY OR SUBSCRIBE FOR, GDRs OR OTHER SECURITIES TO ANY PERSON IN ANY JURISDICTION TO WHOM OR IN WHICH SUCH OFFER OR SOLICITATION IS UNLAWFUL AND, IN PARTICULAR, IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE RUSSIAN FEDERATION. 

THIS ANNOUNCEMENT IS NOT AN OFFER FOR SALE OF ANY SECURITIES IN THE UNITED STATES. SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THE HMS GROUP HAS NOT REGISTERED AND DOES NOT INTEND TO REGISTER ANY PORTION OF ANY OFFERING IN THE UNITED STATES OR TO CONDUCT A PUBLIC OFFERING OF ANY SECURITIES IN THE UNITED STATES. 

THIS COMMUNICATION IS ONLY BEING DISTRIBUTED TO AND IS DIRECTED ONLY AT (I) PERSONS WHO ARE OUTSIDE THE UNITED KINGDOM OR (II) INVESTMENT PROFESSIONALS FALLING WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (THE “ORDER”) AND (III) HIGH NET WORTH ENTITIES, AND OTHER PERSONS TO WHOM IT MAY LAWFULLY BE COMMUNICATED, FALLING WITHIN ARTICLE 49(2) OF THE ORDER (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS “RELEVANT PERSONS”). THE SECURITIES REFERRED TO IN THIS ANNOUNCEMENT ARE ONLY AVAILABLE TO, AND ANY INVITATION, OFFER OR AGREEMENT TO SUBSCRIBE, PURCHASE OR OTHERWISE ACQUIRE SUCH SECURITIES WILL BE ENGAGED IN ONLY WITH, RELEVANT PERSONS. ANY PERSON WHO IS NOT A RELEVANT PERSON SHOULD NOT ACT OR RELY ON THIS DOCUMENT OR ANY OF ITS CONTENTS. 


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