Magnitogorsk Iron & Steel Works : ACRA has assigned MMK AA(+) RU credit rating with stable outlook

PJSC Magnitogorsk Iron & Steel Works (MOEX: MAGN; LSE: MMK) notifies that today the Analytical Credit Rating Agency (ACRA) has assigned AA+ (RU) credit rating to MMK with "stable" outlook.

The credit rating is driven by MMK's strong market position, diversified product portfolio as well as the leadership and unparalleled expertise of the Company in the premium products segment, which accounts for a significant share in the sales mix.

ACRA commented in its press-release: Sophisticated corporate governance reflects the consistency of MMK's strategy to upgrade production facilities, improve its environmental footprint in compliance with the implemented ESG principles, strengthen vertical integration in respect to iron ore supply, boost energy efficiency and reduce production costs.

The agency's "stable" outlook assumes with a high-degree of assurance that the credit rating will not change within the next 12-18 months.

The credit rating was assigned to MMK by ACRA Agency under the national scale for the Russian Federation in accordance with the agency's methodology for credit ratings assignment to non-financial corporations.

The full press-release is available at the link.

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