PJSC Magnitogorsk Iron and Steel Works: Fitch ratings Affirmed

DJ PJSC Magnitogorsk Iron and Steel Works:

PJSC Magnitogorsk Iron and Steel Works (MMK) 
PJSC Magnitogorsk Iron and Steel Works: 
01-Apr-2021 / 10:54 CET/CEST 
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Fitch ratings Affirmed   PJSC Magnitogorsk Iron & Steel Works ("MMK", or "the Group") (MICEX-RTS: MAGN; LSE: MMK), 
MMK's Long-term IDR at   one of the world's largest steel producers, is pleased to announce that Fitch Ratings has 
'bbb' with stable outlook  affirmed MMK's Long-Term Issuer Default Rating (IDR) at 'BBB' with stable outlook. 
              Fitch commented in a press release: "The rating affirmation reflects the proven resilience 
              of MMK's business profile during the pandemic. Its global cost leadership and strong 
01 april 2021        competitive position on the domestic and export markets have allowed the steel group to 
              maintain high utilisation rates and reduce earnings volatility". 
Magnitogorsk, Russia 
About MMK 
MMK is one of the world's largest steel producers and a leading Russian metals company. 
The Group's operations in Russia include a large steel-producing unit 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 
premium products. In 2020, MMK produced 11.6 mln tonnes of crude steel and sold 10.8 mln Subscribe to our official MMK 
tonnes of commercial steel products.                           channel in Telegram, to be 
                                             the first to know about key 
??? is an industry leader in terms of production costs and margins. Group revenue in 2020 MMK news. 
totalled USD 6,395 mln, with an EBITDA of USD 1,492 mln. MMK boasts the industry's lowest 
debt burden. Net debt/EBITDA ratio was -0.06? at the end of 2020. The Group's 
investment-grade rating is confirmed by the leading global rating agencies Fitch, Moody's 
and S&P. 
MMK's ordinary shares are traded on the Moscow Exchange, while its depositary receipts 
are traded on the London Stock Exchange. Free float amounts to 15.7%. 
 
 
Investor Relations Department 
Veronika Kryachko          KEY UPCOMING EVENTS IN 2021 
[phone] 
[e-mail]         Financial calendar 
 
ESG DEPARTMENT           13-14 April  Wood EM Energy & Commodities Virtual Conference 
Yaroslava Vrubel          14 April   Q1 2021 trading update 
[phone] 
[e-mail]          21 April   MMK Q1 2021 financial results under IFRS publication and conference 
                         call 
 Communications Department Dmitriy Kuchumov [phone] [e-mail] Oleg Egorov [phone] [e-mail] ----------------------------------------------------------------------------------------------------------------------- 
ISIN:     US5591892048 
Category Code: MSCM 
TIDM:     MMK 
LEI Code:   253400XSJ4C01YMCXG44 
Sequence No.: 96767 
EQS News ID:  1180446 
 
End of Announcement EQS News Service 
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(END) Dow Jones Newswires

April 01, 2021 04:55 ET (08:55 GMT)