DJ PJSC Magnitogorsk Iron and Steel Works:
PJSC Magnitogorsk Iron and Steel Works (MMK) PJSC Magnitogorsk Iron and Steel Works: 01-Apr-2021 / 10:54 CET/CEST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. =---------------------------------------------------------------------------------------------------------------------- Fitch ratings Affirmed PJSC Magnitogorsk Iron & Steel Works ("MMK", or "the Group") (MICEX-RTS: MAGN; LSE: MMK), MMK's Long-term IDR at one of the world's largest steel producers, is pleased to announce that Fitch Ratings has 'bbb' with stable outlook affirmed MMK's Long-Term Issuer Default Rating (IDR) at 'BBB' with stable outlook. Fitch commented in a press release: "The rating affirmation reflects the proven resilience of MMK's business profile during the pandemic. Its global cost leadership and strong 01 april 2021 competitive position on the domestic and export markets have allowed the steel group to maintain high utilisation rates and reduce earnings volatility". Magnitogorsk, Russia About MMK MMK is one of the world's largest steel producers and a leading Russian metals company. The Group's operations in Russia include a large steel-producing unit encompassing the entire production chain, from the preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products, with a predominant share of premium products. In 2020, MMK produced 11.6 mln tonnes of crude steel and sold 10.8 mln Subscribe to our official MMK tonnes of commercial steel products. channel in Telegram, to be the first to know about key ??? is an industry leader in terms of production costs and margins. Group revenue in 2020 MMK news. totalled USD 6,395 mln, with an EBITDA of USD 1,492 mln. MMK boasts the industry's lowest debt burden. Net debt/EBITDA ratio was -0.06? at the end of 2020. The Group's investment-grade rating is confirmed by the leading global rating agencies Fitch, Moody's and S&P. MMK's ordinary shares are traded on the Moscow Exchange, while its depositary receipts are traded on the London Stock Exchange. Free float amounts to 15.7%. Investor Relations Department Veronika Kryachko KEY UPCOMING EVENTS IN 2021 +7 (915) 380-62-66 kryachko.vs@mmk.ru Financial calendar ESG DEPARTMENT 13-14 April Wood EM Energy & Commodities Virtual Conference Yaroslava Vrubel 14 April Q1 2021 trading update +7 982 282 9682 vrubel.ys@mmk.ru 21 April MMK Q1 2021 financial results under IFRS publication and conference call Communications Department Dmitriy Kuchumov +7 (499) 238-26-13 kuchumov.do@mmk.ru Oleg Egorov +7 (499) 238-26-13 egorov.oa@mmk.ru ----------------------------------------------------------------------------------------------------------------------- ISIN: US5591892048 Category Code: MSCM TIDM: MMK LEI Code: 253400XSJ4C01YMCXG44 Sequence No.: 96767 EQS News ID: 1180446 End of Announcement EQS News Service =------------------------------------------------------------------------------------
(END) Dow Jones Newswires
April 01, 2021 04:55 ET (08:55 GMT)
© 2021 Dow Jones News