05 February 2013, Moscow. NLMK (LSE: NLMK), a leading global steel company, announces that Moody’s Investors Service has today affirmed NLMK’s Baa3 issuer rating with stable outlook.
In its today’s report, the agency underscored that this decision reflects the global scale of the group’s operations, its self-sufficiency in low-cost iron ore, its low costs for steel production and high capacity utilisation. Moody’s noted that NLMK’s operating performance was much stronger during 2012 compared with 2011 as a result of the ramp-up of the group’s new production capacity. The stable outlook on the rating reflects, among other factors, the company’s robust credit metrics, strong liquidity profile and conservative financial policy.