Standard & Poor’s Global Ratings (S&P) has affirmed its ‘B’ long-term issuer credit rating on the Metinvest mining and smelting group (Metinvest B.V. – the Netherlands) and changed the outlook from negative to stable. According to the agency’s press release, it affirmed its ‘B’ rating on Metinvest after revising upward its base case following encouraging … Read more
Metinvest, the largest Ukrainian mining and metallurgical holding, took 42nd place in the list of the largest world steel producers with a volume of 9.58 million tonnes in 2019 compared to the 42nd place with a volume of 9.37 million tonnes of steel in 2018, the 42nd place with a volume of 9.59 million tonnes … Read more
Metinvest B.V. (the Netherlands), the parent company of Metinvest mining and metallurgical group, in January-June of this year saw 39% fall in net profit compared to the same period last year, to $408 million, margin by 4 p.p., to 7%. According to preliminary unaudited interim financial results for the first half of 2019, for the reporting period its revenues decreased 6%, to $5.818 billion. The consolidated … Read more
Fitch Ratings has upgraded Ukrainian integrated steel company Metinvest B.V.’s (Metinvest) Long-Term Local- and Foreign-Currency Issuer Default Ratings (IDRs) and senior unsecured bonds to ‘BB-‘ from ‘B+’. The Outlook is Stable. “The upgrade follows Ukraine’s Country Ceiling upgrade to ‘B’ from ‘B-‘on 6 September 2019. The IDR of Metinvest remains two notches above the Country … Read more
Fitch Ratings has upgraded Ukrainian integrated steel company Metinvest B.V.’s (Metinvest) Long-Term Local- and Foreign-Currency Issuer Default Ratings (IDRs) to ‘B+’ from ‘B’ and senior unsecured bonds to ‘B+’ from ‘B’ with an unchanged Recovery Rating of ‘RR4’, the outlook is stable, according to a report on the rating agency’s website. “The upgrade reflects Metinvest’s … Read more
Moody’s Investors Service (Moody’s) has upgraded to B3 from Caa1 the corporate family ratings (CFRs) and to B3-PD from Caa1-PD the probability of default ratings (PDRs) of three companies operating in Ukraine: Britain’s Ferrexpo Plc with assets in Ukraine, Metinvest B.V. (the Netherlands), the holding company of Metinvest Group, and MHP SE, the holding company … Read more
Fitch Ratings has assigned Metinvest B.V.’s (B/Positive) new 7.75% $945 million senior unsecured notes due 2023 and 8.50% $648 million senior unsecured notes due 2026 final ratings of ‘B’/’RR4’, according to a posting on the rating agency’s website. “The assignment of final ratings follows the receipt of documents conforming to information already received. The final … Read more
The Metinvest mining and metal group after making an offer to buy back 2021 eurobonds has received applications for $1.07 billion, the group reported on the Euronext Dublin last week. The group earlier said that on March 19, when the offer was made, 2021 eurobonds worth $1.187 billion were outstanding. Thus, after the buyback it … Read more
Metinvest mining and metal group has placed eurobonds under the 2012 eurobond refinancing program and pre-export financing facility ((PXF-financing): $825 million bonds due on April 23, 2023 and $525 million bonds due on April 23, 2026. According to information in the Bloomberg system, five-year bonds were placed at 98.986% of their face value. Taking into … Read more
Metinvest Mining and Metallurgical Group after obtaining consent from the holders of 96.8% of eurobonds with circulation until 2021 to change the terms of circulation of the securities will reduce the coupon rate to 7.5% per annum, the group said on the website of the Euronext Dublin stock exchange. According to the offer, the yield … Read more