Russian steelmaker NLMK Group has announced that international credit rating agency Moody’s has upgraded its long-term credit rating from Ba1 to investment grade Вaa3, with a positive outlook.
According to NLMK, the rating action has followed a rating action to raise Russia’s sovereign ceiling which took place on January 25, during which Moody's changed the outlook on Russia's Ba1 long-term issuer and senior unsecured debt ratings to positive from stable.
Sergey Karataev, NLMK Group acting CFO, stated that the rating decision of Moody’s acknowledges NLMK’s high creditworthiness and the success of its business model focused on boosting the efficiency and sustainability of its business. NLMK currently has investment grade credit ratings from all three international rating agencies, S&P Global Ratings, Fitch Ratings and Moody’s, Mr. Karataev added.