DJ PJSC Magnitogorsk Iron and Steel Works: MMK notifies that Fitch Ratings has downgraded MMK's credit rating
PJSC Magnitogorsk Iron and Steel Works (MMK) PJSC Magnitogorsk Iron and Steel Works: MMK notifies that Fitch Ratings has downgraded MMK's credit rating 05-March-2022 / 13:04 CET/CEST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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MMK notifies that fitch PJSC Magnitogorsk Iron & Steel Works ("MMK", or "the Group") (MOEX: MAGN; LSE: MMK) notifies
ratings has downgraded that Fitch Ratings has downgraded MMK's long-term foreign currency and local currency issuer
MMk's credit rating default ratings to 'B' from 'BBB' and placed them on Rating Watch Negative following the
agency's downgrade of Russia's sovereign ratings on 2 March 2022.
The full press-release of Fitch Ratings is available at:
5 march 2022
https://www.fitchratings.com/research/corporate-finance/
Magnitogorsk, Russia fitch-downgrades-russian-commodity-companies-reflecting-increased-financial-risks-04-03-2022
About MMK
MMK is a 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 2021, MMK produced 13.6 mln Subscribe to our official MMK
tonnes of crude steel and sold 12.5 mln tonnes of commercial steel products. channel in Telegram, to be the
first to know about key MMK
Group revenue in 2021 totalled USD 11,869 mln, with an EBITDA of USD 4,290 mln. MMK news.
boasts the industry's lowest debt burden. Net debt/EBITDA ratio was -0.09? at the end of
2021. The Group's investment-grade rating is confirmed by the leading global rating
agencies 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 20.2%.
Investor Relations Department KEY UPCOMING EVENTS IN 2022
Veronika Kryachko Financial calendar
+7 (915) 380-62-66
kryachko.vs@mmk.ru
13 April Q1 2022 Trading Update
ESG DEPARTMENT 19 April Q1 2022 IFRS financials +7 982 282 9682 vrubel.ys@mmk.ru Communications Department Dmitriy Kuchumov +7 (499) 238-26-13 kuchumov.do@mmk.ru
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ISIN: US5591892048 Category Code: MSCL TIDM: MMK LEI Code: 253400XSJ4C01YMCXG44 Sequence No.: 147130 EQS News ID: 1295371 End of Announcement EQS News Service =------------------------------------------------------------------------------------
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1295371&application_name=news
(END) Dow Jones Newswires
March 05, 2022 07:04 ET (12:04 GMT)
