METALLOINVEST FINANCE DESIGNATED ACTIVITY COMPANY (FRA:XS091829) Fitch upgrades Metalloinvest rating to Investment Grade
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Metalloinvest Finance Designated Activity Company (IRSH)
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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Artem Lavrischev T: +7 (495) 981-55-55, ext. 7243 Anton Troshin Public Relations 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%). |
| ISIN: | XS0918297382 |
| Category Code: | MSCM |
| TIDM: | IRSH |
| Sequence No.: | 114384 |
| EQS News ID: | 1213447 |
| End of Announcement | EQS News Service |
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