Russian steelmaker NLMK Group has announced that the international credit rating agency Moody's has changed its rating from negative to stable (Ba1).
NLMK stated that the upgrade reflects its strong operating and financial performance, its stable market positions and significant liquidity. One of the factors that constrains NLMK’s rating is Russia’s sovereign rating. The latest NLMK’s rating is in line with Russia’s sovereign rating. This stabilization of NLMK’s credit rating outlook is a positive signal to the investment community, confirming the sustainability of the company’s business model and performance in a volatile market.