Moody’s Improves MMK’s Rating

UrBC, Magnitogorsk, February 2, 2018. The international rating agency Moody’s promoted Magnitogorsk Iron & Steel Works (MMK) credit rating from Ba1 to Baa3, with Positive rating outlook, MMK Information, PR & Advertising Department reports.

‘The company is quite satisfied with the rating improvement, since this proves MMK chose the right strategic development priorities and relied on actually working solutions to implement its strategy. We are focussed on addressing our key markets, staying efficient, ensuring regular ROI for our shareholders, and being investor-attractive,’ says MMK Director for Economic Issues Andrei Yeremin.

The agency also affirmed Russia’s long-term sovereign credit rating and senior unsecured debt rating at Ba1 on January 25, 2018, with rating outlook changing from Stable to Positive.

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