Metalloinvest Finance Designated Activity Company: Fitch upgrades Metalloinvest rating to 'BB+' with a stable outlook

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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 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
     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: [e-mail] 
 
T: [phone] 
 
    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)