IT is reported that the international rating agency Moody has upgraded Russian steelmaker NLMK long term credit rating from Ba1 to the investment grade level of Baa3. The outlook on the company's rating remains stable.

Moody highlights the excellence of NLMK resilient business model, which has demonstrated sustainable operational and financial performance despite recent the market downturn. Moody expects that NLMK will maintain its highly competitive production costs globally, benefiting from its efficient vertical integration into iron ore, coke and scrap.

(Sourced from SteelOrbis)
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