Metalloinvest
Annual Report 2019

Credit Ratings

Analysts at investment banks and rating agencies publish their opinions on the Company – its prospects, business solvency etc. The Company has been assigned credit ratings by international agencies since July 2010.

In Q1 2019 two international ratings agencies upgraded the Company’s long-term credit rating: Standard & Poor’s to BB+ and Moody’s to Ba1, with a stable outlook.

S&P analysts expect that the Company’s competitive position in the market of iron-ore raw materials and high value-added products, low production costs, and improved credit metrics will help Metalloinvest maintain stable financial performance, despite the volatility of prices for its main products.

In May 2019 the Company’s credit rating was also upgraded to BB+ by the international ratings agency Fitch, and to ruAA by the Russian ratings agency Expert RA.

February 2019

BB+

Stable

Raised the rating of Metalloinvest to BB+/Stable, due to many years’ systematic work on debt reduction and the strong operational and financial indicators achieved in 2018.

March 2019

Ba1

Stable

The improved Ba1/Stable rating reflects the reduced debt burden, sustainable positive cash flows, high liquidity, proactive credit portfolio management, and the optimisation of corporate management components.

May 2019

BB+

Stable

The improved BB+/Stable rating reflects the Company’s strong operational profile, with a strategic focus on high value-added products, healthy liquidity levels, and improved financial performance.

May 2019

ruAA

Stable

The improved ruAA/Stable rating reflects the high financial performance of the Company in 2018 and stronger corporate governance.



Dynamics of Metalloinvest credit ratings in 2014–2019