Moody’s increased forecast of NLMK rating from negative to stable

Moody’s has increased the forecast of NLMK group (Ba1) rating from negative to stable. The decision was made following a similar change of the forecast of the sovereign rating of Russia.

The agency took into account high operational and financial results of NLMK, stable market positions and a significant liquidity level when making a decision. One of the restrictive factors for the rating of NLMK is the factor of the sovereign rating. Currently the rating of NLMK meets the sovereign rating of Russia. The stabilization of the forecast of the credit rating of NLMK group is a positive sign for the investment community that confirms the stability of the business-model and company’s results in the conditions of unstable situation in the market, Vice-President of NLMK group, G. Fedorishin, said.