Aug 22. International rating agency Moody's has confirmed the corporate rating of X5 Retail Group at B1 and the outlook was downgraded from positive to stable, the agency said in a press release. In addition, Moody's Interfax has confirmed the company's rating on the national scale at A1.ru. The outlook was revised mainly due to Moody's opinion that the aggressive rollout strategy and relevant large-scale investments will not allow the company to boost financials to the level of a Ba3 rating anytime in the near future, meaning that this will slow down the process of deleveraging the retailer. Moody's points to "the company's strong operating results, dynamic pace of growth, both organic and via M&As, the retailer's ability to manage M&A processes and X5's stronger foothold on the Russian retail market, especially in the most developed market segments of Moscow and Saint Petersburg".