International rating agency S&P Global Ratings has revised its outlook on NLMK Group’s long-term credit rating (investment grade BBB-) to positive from stable.
Shamil Kurmashov, NLMK CFO, said: “The revised outlook reflects our balanced approach to capital allocation, aimed at combining strategy execution with a conservative financial policy, and an attractive dividend yield for our shareholders.”
NLMK’s current credit ratings:
S&P Global Ratings: BBB- (positive)
Fitch Ratings:BBB (stable)
RAEX (Expert RA):ruAÀÀ(stable)
For more detailed information about NLMK’s credit ratings click here.
About NLMK Group
NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world.
NLMK Group’s steel products are used in various industries, from construction and machine building to the manufacturing of power-generation equipment and offshore wind turbines.
NLMK operates production facilities in Russia, Europe and the United States. The Company’s steel production capacity exceeds 17 million tonnes per year.
NLMK has the most competitive cash cost among global manufacturers and one of the highest profitability levels in the industry. In 12M 2018, the Company generated $12 billion in revenue and $3.6 billion in EBITDA. Net debt/EBITDA stood at 0.25õ. The Company has investment grade credit ratings from S&P, Moody’s, Fitch and RAEX (Expert RA).
NLMK’s ordinary shares with a 18.6% free-float are traded on the Moscow Stock Exchange (ticker "NLMK") and its global depositary shares are traded on the London Stock Exchange (ticker "NLMK:LI"). The share capital of the Company is divided into 5,993,227,240 shares with a par value of RUB1.