DJ Fitch upgrades Metalloinvest rating to Investment Grade
Metalloinvest Finance Designated Activity Company (IRSH)
Fitch upgrades Metalloinvest rating to Investment Grade
29-Jun-2021 / 19:17 MSK
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Fitch upgrades Metalloinvest rating to Investment Grade
Moscow, Russia - 29 June 2021 - Metalloinvest ("the Company"), a leading global iron ore and HBI producer and supplier,
and one of the regional producers of high-quality steel, today announces that Fitch Ratings ("Fitch") has upgraded the
Company's corporate rating to "BBB-" with a stable outlook from "BB+"/stable.
According to Fitch's statement, the rating upgrade reflects the Company's robust financial results, underpinned by its
commitment to a more conservative financial policy, namely systematic debt reduction and a strong operational profile
with competitive cost positioning.
Alexey Voronov, Deputy CEO - Chief Financial Officer of Metalloinvest, commented:
"We are delighted that Fitch recognises the Company's track record of corporate governance improvements, prudent
financial policy and overall strong credit metrics. Investment grade is a great achievement that the Company was able
to deliver after 10 years of presence in international capital markets, following its debut Eurobond issue in 2011."
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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
Anton Troshin
Public Relations
E: pr@metalloinvest.com
Tel.: +7 (495) 981-55-55, ext. 7629
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%).
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ISIN: XS0918297382
Category Code: MSCM
TIDM: IRSH
Sequence No.: 114384
EQS News ID: 1213447
End of Announcement EQS News Service
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June 29, 2021 12:19 ET (16:19 GMT)
