Metalloinvest Finance Limited -- Moody's: Metalloinvest's 5-year new facility with international banks and 2013 financial results are credit neutral

London, 04 April 2014 -- Moody's Investors Service has today said that it views as credit neutral for JSC Holding Company Metalloinvest (Metalloinvest, Ba2 stable), a Russian iron ore, pellets and hot briquetted iron (HBI) producer, the announcement on 31 March, that Metalloinvest had closed a pre-export finance dual-tranche facility agreement with a club of international banks, including Deutsche Bank AG (A2 negative), ING Bank N.V. (A2 negative), Societe Generale (A2 stable), BNP Paribas (A1 stable), Credit Agricole Corporate and Investment Bank (A2 stable), UniCredit Bank AG (Baa1 stable), BTMU (Curacao) Holdings N.V. (A1 stable), Credit Suisse AG (A1 stable), and others. The new facility for the total amount of $1,150 million to be repaid in 2016-19 will be used to refinance the company's pre-export facility of $1,150 million due in 2015-16, which was partially repaid by the company ahead of schedule in March-April 2013. The Ba2 rating remains constrained by negative iron ore price dynamics in early 2014 and the fact that iron ore price volatility is likely to remain in 2014.

Vollständigen Artikel bei Moodys lesen