International rating agency Moody’s has upgraded NLMK Group’s long-term credit rating from Baa3 to Âaà2 with a stable outlook (both are investment grade). The decision follows a rating action to upgrade Russia’s sovereign rating which took place on 8 February 2019.
Shamil Kurmashov, NLMK Group CFO, said: “We welcome Moody’s decision to upgrade NLMK’s rating. This decision acknowledges the Company’s high creditworthiness and the sustainability of NLMK’s business model.”
NLMK’s current credit ratings:
S&P Global Ratings: BBB- (stable)
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 windmills.
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 16% 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. For more details on NLMK shareholder capital please follow the link.
The jury of the prestigious S&P Platts Global Metals Awards held by S&P Global Platts, a leading international industry analytical periodical, announced NLMK Group as winner of the Industry Leadership Awards – Steel in 2016, and awarded it the CEO of the Year in 2018.
For more information on NLMK Group, please visit ourwebsite.