print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases  Novolipetsk Steel REGISTER LOG IN

Press Releases > Novolipetsk Steel  all about the company

company search
all press releases
all Novolipetsk Steel press releases

Novolipetsk Steel

May 20, 2011

Fitch upgrades NLMK to -

NLMK is pleased to announce that the international rating agency Fitch has upgraded the company's long-term credit rating from BB+ to the investment grade level at BBB- with a stable outlook.
Fitch, in a press-release published today, highlights NLMKs progress in balancing its 40% crude steel growth and re-rolling production capacities through acquisition of the rolling assets of Steel Invest and Finance, previously 50/50 JV with Duferco. Fitch states that the acquisition decreases excessive exposure to the volatile semi-finished steel products market and ensures additional value to be delivered from its efficient upstream operations. Additionally, better sector exposure and geographic diversification contributes to the stability of a companys operational performance in future. Fitch positively views NLMKs commitment to continuing with its conservative financial strategy with a target Net debt/EBITDAR ratio below 1.0x and following good corporate governance practices compared with other Russian peers.
Ms Galina Aglyamova, NLMKs CFO, commented: We are very pleased by the decision of Fitch to grant NLMK a BBB- rating. This decision represents a favorable outside assessment of the Company and the strategic, operational and organizational progress that we have made in recent years. We believe that this also confirms the sustainability of our business model and our ability to maintain a resilient performance through the cycle. 

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer