MAGNITOGORSK IRON & STEEL WORKS PJSC Magnitogorsk Iron & Steel Works ('MMK', or 'the Group') (MICEX-RTS: MAGN; LSE: MMK), one of the world's largest steel producers, is pleased to announce that Fitch Ratings has affirmed MMK's Long-Term Issuer Default Rating (IDR) at 'BBB' with stable outlook.
Fitch commented in a press release: 'The rating affirmation reflects the proven resilience of MMK's business profile during the pandemic. Its global cost leadership and strong competitive position on the domestic and export markets have allowed the steel group to maintain high utilisation rates and reduce earnings volatility'.
Investor Relations Department
Veronika Kryachko
tel.: +7 915-380-62-66
E-mail: kryachko.vs@mmk.ru
ESG Department
Yaroslava Vrubel
tel.: +7 982-282-96-82
E-mail: vrubel.ys@mmk.ru
Communication Department
Dmitry Kuchumov
tel.: +7 (499) 238-26-13
E-mail: kuchumov.do@mmk.ru
Oleg Egorov
tel.: +7 (499) 238-26-13
E-mail: egorov.oa@mmk.ru
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OAO MMK - Magnitogorskiy Metallurgicheskiy Kombinat published this content on 01 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 April 2021 09:03:06 UTC.
