London, 09 June 2011 -- Moody's Investors Service has today withdrawn the
Ba3, rating under review, corporate family rating of Wimm-Bill-Dann
Foods OJSC ("the company'). The rating is withdrawn upon the company's
request, which qualifies under Moody's Guidelines for the Withdrawal of
Ratings in situations associated with "Reorganisation".
Moody's Investors Service has withdrawn the credit rating for
reorganization reasons. Please refer to Moody's Investors Service's
Withdrawal Policy, which can be found on our website, www.moodys.com.
Corporate Family Rating, Withdrawn, previously rated Ba3, rating under
review for a possible upgrade.
Please see ratings tab on the issuer/entity page on Moodys.com for the
last Credit Rating Action and the rating history.
Wimm-Bill-Dann Foods OJSC has 38 manufacturing facilities in Russia,
Ukraine, Kyrgyzstan, Uzbekistan and Georgia with over 16,000 employees.
In 2005, Wimm-Bill-Dann became the first Russian dairy producer to
receive approval from the European Commission to export its products into
the European Union.
In 2009 the company reported US$2.18 billion in revenue and USD 306.6
million of EBITDA. In the 1H 2010 WBD reported revenue of 1.25 billion
(17.1% increase Y-o-Y) and EBITDA of USD 159.7 million (0.9% increase
Y-o-Y). In August 2010 Groupe Danone sold its 18.4% stake in the company