DJ Moody's assigned a new credit rating to Metalloinvest
Metalloinvest Finance Designated Activity Company (IRSH) Moody's assigned a new credit rating to Metalloinvest 11-March-2022 / 15:09 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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Moody's assigned a new credit rating to Metalloinvest
Moscow, Russia - 11 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 Moody's Investors Service ("Moody's") has downgraded the Company's rating to "Caa2"/Negative.
According to Moody's statement, the agency downgraded 95 Russian non-financial corporates following the sovereign rating downgrade to "Ca" level, which took place on 6 March 2022. Rating action was triggered by Moody's expectation that capital controls by the Central Bank of the Russian Federation will restrict cross border payments including for debt service.
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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: XS0918297XXX Category Code: MSCH TIDM: IRSH Sequence No.: 148605 EQS News ID: 1300787 End of Announcement EQS News Service =------------------------------------------------------------------------------------
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1300787&application_name=news
(END) Dow Jones Newswires
March 11, 2022 07:09 ET (12:09 GMT)
