METALLOINVEST FINANCE DESIGNATED ACTIVITY COMPANY (FRA:XS091829) Fitch assigned a new credit rating to Metalloinvest
Transparency directive : regulatory news
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Metalloinvest Finance Designated Activity Company (IRSH)
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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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 |
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