METALLOINVEST FINANCE DESIGNATED ACTIVITY COMPANY (FRA:XS091829) Moody's assigned a new credit rating to Metalloinvest
Transparency directive : regulatory news
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Metalloinvest Finance Designated Activity Company (IRSH)
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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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.: | 148605 |
| EQS News ID: | 1300787 |
| End of Announcement | EQS News Service |
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