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.
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For more information, please contact:
Director of Investor Relations and Corporate Ratings
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%).