Fitch Ratings assigns BBB- rating on Norilsk Nickel

Saturday, 07 Nov 2009

OJSC MMC Norilsk Nickel is pleased to announce that international rating agency Fitch Ratings confirmed the company's investment grade credit rating at the level of 'BBB-'.The outlook changed from negative to stable.

According to Fitch, the outlook change reflects increase in metals pricing, further strengthening of company's liquidity profile and the agency's confidence that Norilsk Nickel will be able to refinance its debt maturities due in 2010. Fitch also expects the Company to maintain a conservative stance in terms of costs policy and remain cash flow positive during 2010.