Russia: Standard&Poor’s assigns MMK “BBB-” rating, Outlook Stable
On December 10 rating agency S&P Global Ratings assigned the PJSC Magnitogorsk Iron & Steel Works’ (MMK) “BBB-/A-3” long- and short-term issuer credit ratings with Stable Outlook. In a press release S&P notes that its assessment of MMK’s creditworthiness incorporates MMK’s low-cost production profile, strong operating efficiency, significant share of high value-added products in sales,…