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S&P affirmed Metalloinvest ‘BB’ long-term rating

February 25, 2016
Metalloinvest (“the Company”) announces that Standard & Poor’s Ratings Services (“S&P”) affirmed ‘BB’ long-term foreign- and local-currency ratings on the Company.

According to the published statement, S&P affirmed ‘BB’ ratings because the agency believes that the weaker Russian ruble and a favorable product mix will continue to benefit Metalloinvest’s performance metrics. The Company’s positive free operating cash flow generation, reduced capital expenditure, commitment to deleveraging contributed to the S&P decision.

The outlook remains Negative due to challenging market conditions and Company’s sensitivity to movements in iron ore prices, demand levels and foreign exchange rates.
Concurrently, S&P affirmed ‘BB’ issue rating on USD 1 bn senior unsecured notes due 2020.
Company — Metalloinvest
  • Full name
    METALLOINVEST
  • Industry
    Mining industry