METALLOINVEST FINANCE DESIGNATED ACTIVITY COMPANY (FRA:XS091829) Fitch withdraws credit ratings
Transparency directive : regulatory news
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Metalloinvest Finance Designated Activity Company (IRSH)
Fitch withdraws credit ratings Moscow, Russia - 4 April 2022 - Metalloinvest ("the Company"), a leading global iron ore and HBI producer and supplier, and one of the regional producers of high-quality steel, today announces that Fitch Ratings ("Fitch") has withdrawn the Company's credit ratings, including long-term issuer default rating of JSC Holding Company Metalloinvest and senior unsecured rating of Metalloinvest Finance DAC due to the ban on providing credit ratings to legal persons, entities, or bodies established in Russia adopted by the Council of the European Union on March 15th 2022. The agency has withdrawn the ratings of 22 Russian natural resources companies and their subsidiaries. On March 7th2022, Fitch announced the suspension of its commercial operations in Russia. On March 25th 2022, Fitch withdrew Russia's sovereign ratings.
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About Metalloinvest Metalloinvest is a leading metals and mining company with the largest proven iron ore reserves on a JORC-equivalent basis (15.4 billion tonnes and about 150 years of reserve life). The company is the world's largest producer and supplier of merchant hot briquetted iron (HBI) products, a low-carbon raw material used to produce green steel; Metalloinvest holds a leading position in the production of pellets, iron ore concentrate and high-quality steel. In 2021, revenue amounted to USD 10.6 bn; EBITDA - USD 5.75 bn. The company has 10+ years track record on public debt capital markets. Alisher Usmanov is the main beneficiary of the company (with a 49% stake) through Holding Company USM LLC. Ticker (Bloomberg): METIN RU; official website: www.metalloinvest.com
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| ISIN: | XS0918297382 |
| Category Code: | MSCH |
| TIDM: | IRSH |
| Sequence No.: | 153466 |
| EQS News ID: | 1319439 |
| End of Announcement | EQS News Service |
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