Metinvest Group, an international vertically integrated group of mining and metallurgical companies, announced that the credit rating agency Fitch Ratings has changed the outlook on the Group's long-term rating for liabilities in national and foreign currencies from “negative” to “stable”. At the same time, the credit rating of Metinvest and its bonds remained at BB, which is two levels higher than the country ceiling for Ukraine.
The rating agency highly appreciated the ability of Metinvest to generate cash flow, which is associated with the favorable situation on the steel and iron ore markets amid the recovery of the global economy. The agency also noted the Group's financial flexibility, which contributes to increasing its profitability, including through gaining control over the Pokrovskaya Coal Group and implementing a capital investment program. In addition, Fitch Ratings noted the expected gradual decline in Metinvest's total debt.