Fitch affirmed Metalloinvest 'BB' rating with a Stable outlook

Moscow, Russia - 12 April 2017 - Metalloinvest ('the Company') today announces that Fitch Ratings ('Fitch') confirmed the Company's long-term issuer default rating at 'BB' with a Stable outlook.

In accordance with Fitch's opinion reflected in the published release, Metalloinvest demonstrated financial resilience at times of volatile global pricing in iron ore and steel products and consistently reduced its absolute level of debt over the past four years. Fitch's analysts also noticed Metalloinvest's top-three pellet and leading merchant hot briquette iron (HBI) position globally, and the Company's global cost leadership which underpins its positive free cash-flow generation through the cycle.

Fitch has also confirmed rating for USD 1 bn senior unsecured notes due 2020 issued by Metalloinvest Finance D.A.C.* at 'BB' level.
 

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For more information, please contact:
Artem Lavrischev
Director of Investor Relations and Corporate Ratings
E: ir@metalloinvest.com
T: +7 (495) 981-55-55


 

* Designated Activity Company

_{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 USM Holdings. Alisher Usmanov is the major beneficiary of USM Holdings (49%), with other major beneficiaries being the companies of Vladimir Skoch (30%) and Farhad Moshiri (10%).}