ACRA Rating Agency has affirmed the credit rating of IMCB, PJSC, (Gemabank, MOEX: GEMA) at BBB- on the national rating scale for the Russian Federation, with a stable outlook.
The affirmation of the credit rating of IMCB, PJSC, reflects the maintenance of operational and financial risk profile assessments. The company's market position and business profile demonstrate Gemabank's continued leadership in the niche segment of human cell and tissue banking. Corporate governance is assessed as moderate. Financially, the company exhibits very high profitability, a small business size, low debt burden with an average debt servicing ratio, and very strong cash flow and strong liquidity.
The stable outlook indicates that the rating is expected to remain unchanged over a 12–18-month horizon. The next review of the credit rating and outlook of IMCB, PJSC, is expected within one year from the date of this press release. ACRA first published the company's credit rating on July 20, 2022.
IMCB (Gemabank), a biotechnology company within Artgen Biotech Group (MOEX: ABIO), focuses on personal stem cell banking and the development of gene therapy drugs for treating blood and immune system disorders. The company's share of the Russian market remains at the level of 40 %, with over 44,000 samples stored at Gemabank as of the end of 2024. IMCB operates in 150 cities across Russia.
You can read the full report through the link.