Creditreform downgrades rating to CC

Walldorf, 2 March 2015 – Creditreform Rating AG today published the regular follow-up rating for Ekotechnika GmbH, the German holding company of the EkoNiva-Technika Group, the largest dealer of international agricultural machinery in Russia. The rating was downgraded from CCC to CC in view of the continued difficult economic and political conditions in Russia and the resulting weaker overall business performance. Creditreform Rating AG’s rating is based on preliminary figures for the consolidated financial statements 2013/14. The final figures are still being audited by the company’s accountants.