HMS Group withdraws S&P’s credit rating

Moscow, Russia - HMS Group (LSE: HMSG) -- Rating agency Standard & Poor's on the 22nd of December, 2014, downgraded the corporate rating of HMS Group to "CCC" and kept it on CreditWatch with negative outlook, because, on the agency's opinion, there is a near-term refinancing risk arising from the Rub 2.1 bn bond maturity in February 2015.
HMS' management decided to withdraw S&P's credit rating.
HMS Group
is the leading pump and compressor manufacturer, as well as 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. 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. HMS Group’s global depositary receipts (“GDRs”) are listed under the symbol “HMSG” on the London Stock Exchange.

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