News

Magnitogorsk Iron & Steel Works ratings changed from negative to stable

Moody's Investors Service (Moody’s) has changed to stable from negative the outlook on the Ba1 corporate family rating (CFR) and the Ba1-PD probability of default rating (PDR) of Magnitogorsk Iron & Steel Works. Concurrently, Moody's has affirmed all these ratings.

The stable outlook on the company’s rating is in line with the stable outlook for the sovereign rating and reflects Moody's expectation that each 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.

By MMK.