PJSC Magnitogorsk Iron and Steel Works: Moody's Upgrades MMK to 'Baa2'; Outlook Stable

Dow Jones received a payment from EQS/DGAP to publish this press release.

PJSC Magnitogorsk Iron and Steel Works (MMK) 
PJSC Magnitogorsk Iron and Steel Works: Moody's Upgrades MMK to 'Baa2'; 
Outlook Stable 
 
13-Feb-2019 / 09:21 CET/CEST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
            Moody's Upgrades MMK to 'Baa2'; Outlook Stable 
 
                         13-02-2019, Magnitogorsk 
 
  PJSC Magnitogorsk Iron & Steel Works' (MMK) is pleased to announce that on 
   February 12th, 2019 Moody's rating agency upgraded MMK's Issuer Rating to 
                         'Baa2' from 'Baa3' with Stable Outlook. 
 
  This action followed a sovereign rating action on the government of Russia 
which took place on 8 February 2019 when Moody's upgraded Russia's long-term 
   issuer and senior unsecured debt ratings to Baa3 from Ba1 and changed the 
                         outlook on these ratings from positive to stable. 
 
    Moody's stated in its press release that the upgrade of Russia's ratings 
         reflects the positive impact of policies enacted in recent years to 
  strengthen Russia's already robust public finance and external metrics and 
       reduce the country's vulnerability to external shocks including fresh 
                         sanctions. 
 
                         About MMK 
 
     MMK is one of the world's largest steel producers and a leading Russian 
          metals company. The company's operations in Russia include a large 
  steel-producing complex encompassing the entire production chain, from the 
 preparation of iron ore to downstream processing of rolled steel. MMK turns 
             out a broad range of steel products with a predominant share of 
high-value-added products. In 2018, the company produced 12.7 million tonnes 
    of crude steel and 11.7 million tonnes of commercial steel products. MMK 
        Group had sales in 2018 of USD 8,214 million and EBITDA of USD 2,418 
                         million. 
 
Investor contacts: 
 
Andrey Serov 
 
tel.: [phone] 
 
E-mail: [e-mail] 
 
Media contacts: 
 
Dmitry Kuchumov            Dmitry Bulin 
 
tel.: [phone]   tel.: [phone] 
 
E-mail: [e-mail] E-mail: [e-mail] 
 
ISIN:          US5591892048 
Category Code: MSCH 
TIDM:          MMK 
LEI Code:      253400XSJ4C01YMCXG44 
Sequence No.:  7471 
EQS News ID:   775285 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

February 13, 2019 03:22 ET (08:22 GMT)