Metalloinvest Finance Designated Activity Company
Fitch upgrades Metalloinvest outlook to Positive, affirms rating at ‘BB’
Metalloinvest Finance Designated Activity Company (IRSH) Moscow, Russia – 23 August 2018 – Metalloinvest (“the Company”), a leading global iron ore and HBI producer and supplier, and one of the regional producers of high–quality steel, announces that Fitch Ratings (“Fitch”) has revised its outlook on Metalloinvest from Stable to Positive. Fitch has also affirmed long-term issuer default rating at ‘BB‘. According to Fitch press release, Metalloinvest’s upgrade to a Positive outlook reflects the Company’s deleveraging as a result of improved iron ore and steel prices, which together with increased high value-added production capacity resulted in stronger financial performance.
For more information, please contact: Artem Lavrischev T: +7 (495) 981-55-55
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%), with other major beneficiaries being the companies of Vladimir Skoch (30%) and Farhad Moshiri (8%). |
ISIN: | XS0918297382 |
Category Code: | MSCM |
TIDM: | IRSH |
Sequence No.: | 5917 |
EQS News ID: | 716961 |
End of Announcement | EQS News Service |