The outlook revision reflects robust performance of Russian steel producers at the environment of global steel industry downturn. The solid performance is backed by low production cost and stable demand for steel in the country.
The S&P outlook upgrade reflects MMK's ability to maintain a prudent financial policy by having the lowest leverage among Russian steel producers, keeping CAPEX discipline and sticking to conservative dividend policy.
S&P commented in a press release: 'The positive outlook on MMK reflects the possibility that we could raise the ratings in the next 24 months if the company maintains solid credit metrics, with FFO to debt above 60%, even if industry conditions are more challenging than our current base-case scenario, while maintaining its conservative financial policy'.
About MMK
MMK is one of the world's largest steel producers and a leading Russian metals company. The company's operations in
MMK is one of the cost leaders in the industry with leading positions in profitability. In 12M 2018, the Company generated
MMK is listed on
Contact:
Veronika Kryachko
Tel: +7 (3519) 25-75-01
Email: kryachko.vs@mmk.ru
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