DJ Fitch assigned a new credit rating to Metalloinvest
Metalloinvest Finance Designated Activity Company (IRSH) Fitch assigned a new credit rating to Metalloinvest 05-March-2022 / 12:50 MSK Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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Fitch assigned a new credit rating to Metalloinvest
Moscow, Russia - 5 March 2022 - 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 downgraded the Company's corporate rating to "B" / Rating Watch Negative (RWN) from "BBB-" with a stable outlook.
According to Fitch's statement, the agency downgraded 26 Russian commodity companies, reflecting, according to the agency, severe shock to the operating environment in Russia, weakened financial flexibility and increased financial risks. This decision follows the agency's downgrade of Russia's sovereign rating to "B"/ Rating Watch Negative (RWN) on 2 March 2022.
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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
About Metalloinvest
Metalloinvest is a leading metals and mining company with the largest proven iron ore reserves on a JORC-equivalent basis
(15.4 billion tonnes and about 150 years of reserve life). The company is the world's largest producer and supplier of merchant hot briquetted iron (HBI) products, a low-carbon raw material used to produce green steel; Metalloinvest holds a leading position in the production of pellets, iron ore concentrate and high-quality steel.
In 2021, revenue amounted to USD 10.6 bn; EBITDA - USD 5.75 bn. The company has 10+ years track record on public debt capital markets.
Alisher Usmanov is the main beneficiary of the company (with a 49% stake) through Holding Company USM LLC.
Ticker (Bloomberg): METIN RU; official website: www.metalloinvest.com
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ISIN: XS0918297382 Category Code: MSCH TIDM: IRSH Sequence No.: 147125 EQS News ID: 1295355 End of Announcement EQS News Service =------------------------------------------------------------------------------------
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1295355&application_name=news
(END) Dow Jones Newswires
March 05, 2022 04:51 ET (09:51 GMT)
