Fitch affirmed Metalloinvest 'BB' rating with a Stable outlook

Moscow, Russia - 23 May 2016 - Metalloinvest ('the Company') announces that Fitch Ratings ('Fitch') confirmed the Company's 'BB' corporate rating with a Stable outlook.

In accordance with the published release, today's affirmation reflects Fitch's opinion about Metalloinvest's resilient financial performance, debt reduction progress, strong business profile and low production costs. All named above provide healthy positive free cash flow generation and resilience to market price volatility.

Fitch has also confirmed senior unsecured rating for Metalloinvest Finance D.A.C.* at 'BB' level.

 

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For more information, please contact the Investor Relations Department:

Artem Lavrischev
Head of Investor Relations

E: ir@metalloinvest.com

T: +7 (495) 981-55-55


 

* Designated Activity Company
 

_{Metalloinvest is a leading global iron ore and HBI producer and supplier, and one of the regional high quality steel producers. The Company has the world's second largest measured iron ore reserve base under its operation with the key-note iron ore production cost efficiency.}

_{Metalloinvest is wholly owned by USM Holdings. Alisher Usmanov is the major beneficiary of USM Holdings (48%), with other major beneficiaries being the companies of Vladimir Skoch (30%) and Farhad Moshiri (10%).}