Russian steel producer Magnitogorsk Iron and Steel Works (MMK) has announced that international credit rating agency Moody’s has changed its outlook to stable from negative and affirmed its ‘Ba1’ corporate credit rating.
According to MMK’s statement, the stable outlook on its rating is in line with the stable outlook for the sovereign rating of Russia and reflects Moody's expectation that the company's specific credit factors, including its operating and financial performance, market position and liquidity, will remain commensurate with its ratings on a sustainable basis.