International rating agency Moody’s has upgraded the long-term credit rating of NLMK Group, an international steel company with operations in Russia, the United States, and the European Union, from Ba1 to investment grade Âaa3, with a positive outlook.

The decision follows a rating action to raise Russia’s sovereign ceiling which took place on 25 January 2018.

Sergey Karataev, NLMK Group Acting CFO, commented: “We welcome Moody’s decision to assign NLMK an investment grade rating. This decision acknowledges the Company’s high creditworthiness and the success of NLMK’s business model focused on boosting the efficiency and sustainability of our business.  NLMK currently has investment grade credit ratings from all three international rating agencies.”

NLMK’s current credit ratings:

S&P Global Ratings: BBB- (stable)

Fitch Ratings: BBB- (stable)

Moody’s: Baa3 (positive)

For more detailed information about NLMK’s credit ratings click here.