Metalloinvest Finance Designated Activity Company (IRSH)
Metalloinvest Finance Designated Activity Company: Fitch affirms
Metalloinvest rating at 'BB+' with a stable outlook
16-Jul-2020 / 16:02 MSK
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Fitch affirms Metalloinvest rating at 'BB+' with a stable outlook
Moscow, Russia - 16 July 2020 - Metalloinvest ("the Company") today
announces that Fitch Ratings ("Fitch") has affirmed the Company's corporate
rating at "BB+" with a stable outlook.
According to Fitch statement, rating upgrade reflects the Company's
continually strong operational profile with competitive cost position (1st
quartile of global cash cost curve for pellets and long steel), comfortable
net debt level, solid liquidity cushion, robust financial flexibility and
transparent financial policy. Fitch analysts also highlighted that OEMK
plant is the most efficient steelmaking site in Russia from the perspective
of Scope 1 carbon dioxide emissions per ton of steel produced.
At the same time, Fitch has affirmed the senior unsecured ratings assigned
to the notes issued by Metalloinvest Finance D.A.C. at "BB+".
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If you have any questions, please contact us:
Artem Lavrischev
Investor Relations
E: ir@metalloinvest.com
T: +7 (495) 981-55-55, ext. 7243
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.: 76269
EQS News ID: 1095627
End of Announcement EQS News Service
(END) Dow Jones Newswires
July 16, 2020 09:02 ET (13:02 GMT)
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