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Metalloinvest Finance Designated Activity Company (IRSH)
Metalloinvest Finance Designated Activity Company: Fitch upgrades
Metalloinvest rating to 'BB+' with a stable outlook
06-May-2019 / 14:30 MSK
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Fitch upgrades Metalloinvest rating to 'BB+' with a stable outlook
Moscow, Russia - 6 May 2019 - Metalloinvest ("the Company") today announces
that Fitch Ratings ("Fitch") has upgraded the Company's corporate rating to
"BB+" with a stable outlook from "BB"/positive.
According to Fitch statement, rating upgrade reflects the Company's
continually strong operational profile with strategic focus on high
value-added products, competitive cost position, healthy liquidity, improved
financial metrics and incorporates the progress the Company has made to
improve the level of corporate governance.
At the same time, Fitch has upgraded the senior unsecured ratings assigned
to the notes issued by Metalloinvest Finance D.A.C. to "BB+" from "BB".
Alexey Voronov, Finance Director of Management Company Metalloinvest, said:
"We welcome the agency's decision to upgrade Metalloinvest's rating to BB+
(one step to the investment grade). Fitch is the third international rating
agency, which upgraded Metalloinvest's rating to BB+/Ba1 level since the
beginning of 2019 year".
# # # #
For more information, please contact:
Artem Lavrischev
Director of Investor Relations and Corporate Ratings
E: ir@metalloinvest.com
T: +7 (495) 981-55-55
Metalloinvest is a leading global iron ore and merchant HBI producer and
supplier, and one of the regional producers of high-quality steel. The
Company has the world's second-largest measured iron ore reserve base and is
one of the lowest-cost iron ore producers.
Metalloinvest is wholly owned by Holding Company USM LLC. Alisher Usmanov is
the major beneficiary of Holding Company USM LLC (49%).
ISIN: XS0918297382
Category Code: MSCL
TIDM: IRSH
Sequence No.: 8517
EQS News ID: 807453
End of Announcement EQS News Service
(END) Dow Jones Newswires
May 09, 2019 17:09 ET (21:09 GMT)
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