OJSC MMC Norilsk Nickel is pleased to announce that today Moodys Investors Service affirmed its Baa2′ rating on the Company following a review of its current operating performance and recent business developments. The outlook remains stable.
According to Moodys MMC Norilsk Nickel continues to generate free cash flow enabling it to meet its business targets and debt service requirements in the current turbulent economic environment. Cost cutting initiatives proved to be efficient and strengthened the Companys leading market positions.
MMC Norilsk Nickels Chief Financial Officer Dmitry Kostoev noted that the Companys priorities include ongoing control over expenses and adequate capital investments to ensure assets modernization. The Companys financial policy envisages maintenance of optimal debt structure to finance capital expenditures while keeping investment grade credit rating.