Press Room

Fitch upgrades Metalloinvest rating to Investment Grade

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 Companys corporate rating to BBB- with a stable outlook from BB+/stable.

According to Fitchs statement, the rating upgrade reflects the Companys 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 Companys 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.

Artem Lavrischev

Artem Lavrischev

Director of Finance and Economics Development Department
E-mail: ir@metalloinvest.com
Tel.: +7 (495) 981-55-55

For more information, please contact the Finance and Economics Development Department

 
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