In its announcement, S&P noted that the upgrade was due to the Group’s operational improvements and deleveraging.
The new rating is one notch above S&P’s sovereign rating for Ukraine and is based on Metinvest’s ability to maintain access to hard currencies from strong export sales and limited debt maturities in the coming years.
For more details, see www.spglobal.com.
Commenting on the announcement, Yuriy Ryzhenkov, Chief Executive Officer of Metinvest, said:
“We are proud to have received such an upgrade. This independent assessment from an international rating agency confirms our solid performance in terms of improving operations, reducing debt, pursuing a robust CAPEX programme and strengthening vertical integration.”