In its report, the rating agency noted that the rating upgrade was due to the positive effect of operational improvements, as well as a significant reduction in the Group's debt obligations.
Metinvest's rating is one notch higher than the sovereign rating of Ukraine, which is due to the Group's ability to generate export earnings in hard currency and a slight debt burden in the coming years.
Additional information can be obtained at www.spglobal.com.
Commenting on this event, Yuri Ryzhenkov, CEO of Metinvest , noted:
“We are proud to have received an upgrade in the Group's credit rating. This independent assessment from an international rating agency confirms our results in improving operations, reducing debt, implementing a capital investment program, and strengthening vertical integration. ”
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