23 July 2008

Standard & Poor’s upgrades NLMK to ВВВ-

NLMK is pleased to announce that the international rating agency Standard & Poor’s has upgraded the company's long-term credit rating from BB+ to the investment grade level at BBB- with a stable outlook. The upgrade makes NLMK the first Russian steel company to achieve investment grade status.

Standard and Poor’s, in its press-release published today, highlights NLMK’s favourable credit indicators, including high profitability attributable to the successful implementation of the company’s vertical integration strategy, state-of-the-art production facilities , efficiency and low production costs as well as diversified production and expanded product range, focusing particularly on high value added products.

Ms. Galina Aglyamova, NLMK’s CFO, commented: «The granting of this investment rating is testament to NLMK’s strong financial stability and will allow the company to reduce costs while raising funds to finance the company’s development programme».


Maria Simonova

Press Secretary

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