Nutrinvestholding http://www.alacrastore.com/company-snapshot/Nutrinvestholding-4008572 Tuesday, October 07, 2008 9:12:04 PM 4008572 Nutrinvestholding en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/spcred/672012spcred/672012normThe latest Summary from S&Pglobal9/18/2008 10:29:41 AM175Summary672012RussiaPackaged Foods & MeatsEmerging MarketsEurope, Middle East, AfricaGlobal IssuersCorporationsConsumer ProductsSummaryThe rating on Russia-based baby food and dairy producer Nutrinvestholding OJSC (Nutritek) is constrained by intense competition with international producers, the group's limited presence in the important Moscow and St. Petersburg markets, and its aggressive expansion policy. The company's onerous debt-maturity profile and negative free operating cash flow generation also limit the rating. These factors are mitigated by the rapidly growing baby food market in Russia, the company's position as Russia's largest domestic baby food manufacturer, and its balanced financial policy. Nutritek enjoys an established position as a major regional producer of baby foods in Russia and Ukraine. The company ranks third in terms of sales in the baby food market in the Commonwealth of Independent States (CIS), while theRUS30202030 302020 3020 30Nutrinvestholding OJSC425693EMERGINGEUROMIDAFRNTRI@RUSUMMARYGLOBISSCORPConsumerCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/644559spcred/644559normThe latest News from S&Pglobal4/24/2008 1:00:46 PM100News644559RussiaPackaged Foods & MeatsEmerging MarketsEurope, Middle East, AfricaGlobal IssuersCorporationsConsumer ProductsNewsMOSCOW (Standard&Poor's) April 24, 2008--Standard&Poor's Ratings Services said today that it assigned its 'B' senior unsecured debt rating to the $50 million loan participation notes issued by Winterhaven B.V. for the sole purpose of funding an intended loan of a similar amount to Nutritek International Corp. (BVI), part of Russian baby food producer Nutrinvestholding OJSC (Nutritek; B/Positive/--; Russia national scale 'ruA-'). "The rating on the bonds mirrors the long-term corporate credit rating on Nutritek," said Standard&Poor's credit analyst Anton Geyze. "The proceeds from the bond issue will be used for refinancing needs and working-capital outlays." The rating on Nutritek is constrained by intense competition, the group's limited presence in the important Moscow and St.RUS30202030 302020 3020 30Nutrinvestholding OJSC425693EMERGINGEUROMIDAFRNTRI@RUNEWSGLOBISSCORPConsumerCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/635133spcred/635133normThe latest Summary from S&P3/12/2008 8:30:17 AMSummary175global635133RussiaPackaged Foods & MeatsEmerging MarketsEurope, Middle East, AfricaGlobal IssuersCorporationsConsumer ProductsSummaryThe rating on Russia-based baby food and dairy producer Nutrinvestholding OJSC (Nutritek) is constrained by intense competition, the group's limited presence in the important Moscow and St. Petersburg markets, and its aggressive expansion policy. A narrow production base compared with international producers and negative free operating cash flow generation also limit the rating. These factors are mitigated by the rapidly growing baby food market in Russia, the company's position as Russia's largest domestic baby food manufacturer, and its balanced financial policy. Nutritek established its position as a major regional producer of baby foods through a number of acquisitions in Russia and Ukraine. This has allowed the company to gain the third-largest market share in baby food in the Commonwealth ofRUS30202030 302020 3020 30Nutrinvestholding OJSC425693EMERGINGEUROMIDAFRNTRI@RUSUMMARYGLOBISSCORPConsumerCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/615877spcred/615877normThe latest News from S&P11/29/2007 1:21:18 PMNews100global615877RussiaEmerging MarketsEurope, Middle East, AfricaGlobal IssuersCorporationsConsumer ProductsNewsMOSCOW (Standard&Poor's) Nov. 29, 2007--Standard&Poor's Ratings Services said today that its ratings and outlook on Russian baby food and dairy producer Nutrinvestholding OJSC (Nutritek; B/Positive/--, national scale rating 'ruA-') remain unchanged after the company's announcement of the sale of its dairy and agro business to Russagroprom (not rated) for $350 million. Nutritek has used part of the proceeds to pay down $100 million in credit-linked notes maturing today, leaving it with a net cash position. The baby food division contributed more than 60% of Nutritek's EBITDA prior to the spin-off. Cash flow protection measures are likely to remain commensurate with the current rating, as increased profitability and reduced working-capital requirements will somewhat offset the additional debtRUSNutrinvestholding OJSC425693EMERGINGEUROMIDAFRNTRI@RUNEWSGLOBISSCORPConsumerCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/609001spcred/609001normThe latest Full Report from S&P10/23/2007 10:30:59 AMFull Report400global609001RussiaEmerging MarketsEurope, Middle East, AfricaGlobal IssuersCorporationsConsumer ProductsFull ReportRapidly growing baby food market in Russia Largest domestic baby food producer in Russia Strong presence in Russian regions and Ukraine Balanced financial policy Stiff competition Limited presence in the high-income markets of Moscow and St. Petersburg Aggressive expansion policy in Russia, China, and New Zealand Concentrated production base presenting operating risks Exposure to Russia's immature banking and payments system The ratings on Russia-based baby food and dairy producer Nutrinvestholding OJSC (Nutritek) are constrained by intense competition, the group's limited presence in the important Moscow and St. Petersburg markets, and its aggressive expansion policy. A narrow production base compared with international producers and negative free operating cash flow generation also limit the ratings. These factors are mitigated by the rapidlyRUSNutrinvestholding OJSC425693EMERGINGEUROMIDAFRNTRI@RUFULLGLOBISSCORPConsumerCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/609002spcred/609002normThe latest Summary from S&P10/23/2007 10:30:59 AMSummary175global609002RussiaEmerging MarketsEurope, Middle East, AfricaGlobal IssuersCorporationsConsumer ProductsSummaryThe ratings on Russia-based baby food and dairy producer Nutrinvestholding OJSC (Nutritek) are constrained by intense competition, the group's limited presence in the important Moscow and St. Petersburg markets, and its aggressive expansion policy. A narrow production base compared with international producers and negative free operating cash flow generation also limit the ratings. These factors are mitigated by the rapidly growing baby food market in Russia, the company's position as Russia's largest domestic baby food manufacturer with a secured raw milk supply, and its balanced financial policy. Nutritek established its position as a major regional producer of baby food and dairy products through a number of acquisitions in Russia and Ukraine. This has allowed the company to gain the third-largestRUSNutrinvestholding OJSC425693EMERGINGEUROMIDAFRNTRI@RUSUMMARYGLOBISSCORPConsumerCredit & Investment ResearchS&P Credit Research