On January 29 Moody’s rating agency upgraded the MMK Issuer Rating to “Baa3” from “Ba1” with positive outlook.
Andrey Eremin, MMK’s Director for Economics, commented: “We at MMK are satisfied with the increased issuer rating. This is a proof that MMK has correctly formulated its strategic development priorities and introduced quite efficient tools to implement its strategy. Our priorities today include focusing on the key markets, internal efficiency, regular return on investors’ equity and corporate investment appeal.”
Moody’s action follows a sovereign rating action on the government of Russia which took place on January 25, during which Moody’s changed the outlook on Russia’s Ba1 long-term issuer and senior unsecured debt ratings to positive from stable. (MMK/Ukrainian metal)