Fitch Upgrades Metinvest to B+, Two Notches Above Sovereign Levels

Kiev, Ukraine (ots/PRNewswire) - Metinvest B.V., ("Metinvest" or
"the Group") today announces that it received an upgraded Credit
rating from Fitch Ratings ("Fitch") on 10 April 2019. Metinvest's
Long-Term Local and Foreign Currency Issuer Default Ratings (IDRS)
have been raised from B to B+ with an unchanged Recovery Rating of
RR4. Fitch's Outlook for Metinvest is "stable".

In its announcement about the upgrade, Fitch's points to
Metinvest's improved capital structure, with an improved maturity
profile and its commitment to prioritise capital expenditure, debt
repayment and working capital funding over dividends. Capital
expenditure for 2019 and 2020 is expected to be funded from internal
cash flow generation.

Fitch also noted that it assesses Metinvest's business and
financial profile is in the BB category. It also underlines that
Metinvest's new B+ rating is now two notches above Ukraine's B-
Country ceiling. This is attributable to a sustainable improvement in
the Group's hard currency external debt service cover ratio.

Commenting on the announcement, Yuriy Ryzhenkov, CEO of Metinvest,
said:

"The upgrade is great news for Metinvest and a further step on our
journey to become a global player in our industry. Our improving
credit rating is a reflection of our robust fundamentals, strong hard
currency ratios, an EBITDA of more than US$2 billion, and a proven
vertically integrated business model that is allowing us to take
advantage of the strong pricing environment in our industry. The
continuing confidence of the global investment community is an
endorsement of Metinvest's long-term strategy."

Notes to Editors:

METINVEST GROUP is a vertically integrated group of steel and
mining companies that manages every link of the value chain, from
mining and processing iron ore and coal to making and selling
semi-finished and finished steel products. It comprises steel and
mining production facilities located in Ukraine, Europe and the US,
as well as a sales network covering all key global markets.
Metinvest's business is divided for financial reporting purposes into
two segments: Metallurgical and Mining. Its strategic vision is to
become a leading vertically integrated steel producer in Europe,
delivering sustainable growth and profitability resilient to business
cycles and providing investors with returns above the industry
benchmarks. For the 12 months ended 31 December 2018, the Group
reported revenues of US$11.9 bn and an EBITDA margin of 21%.

METINVEST HOLDING LLC is the management company of Metinvest
Group.

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ots Originaltext: Metinvest B.V
Im Internet recherchierbar: http://www.presseportal.de

Contact:
+41-22-591-03-74 (Switzerland)
Tel: +380-44-251-83-24 (Ukraine)
andriy.bondarenko@metinvestholding.com

Original-Content von: Metinvest B.V, übermittelt durch news aktuell