Metalloinvest has announced 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 underpinned its positive free cash-flow generation through the cycle.
Fitch has also confirmed rating for $1 billion senior unsecured notes due 2020 issued by Metalloinvest Finance at ‘BB’ level. (MetalInfo/Ukrainian metal)