MMC Norilsk Nickel
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21 August 2008 г. | 10:58
Standard & Poor's ratings service affirms the investment grade 'BBB-' rating on MMC Norilsk Nickel with stable outlook
MMC Norilsk Nickel announced that on August 20, 2008 Standard & Poor's Ratings Service affirmed its 'BBB -' rating on the Company following a review of its performance and recent shareholding developments. The outlook is stable. According to the agency the rating reflects the Company's position as a global leader in nickel and palladium, its No.4 position as a platinum producer, and its significant role in the production of copper, cobalt, rhodium and other metals. MMC Norilsk Nickel benefits from its large, high-grade reserve base, which supports massive production, product diversity, and low costs.
According to Alexander Popov, First Deputy General Director, in order to preserve its investment grade credit rating MMC Norilsk Nickel will carry on pursuing a prudent financial policy and carefully manage its liquidity in the current economic and financial markets environment.
“MMC Norilsk Nickel management intends to follow the Company’s strategic goals and continue improving operational efficiency in order to maintain a competitive cost position amid rising global industry costs”, - Alexander Popov noted.
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