March 20, 2019

According to the agency, the «Expert RA» rating agency assigned the credit rating of the non-financial company Severstal to ruAAA, which corresponds to the highest level of solvency/financial reliability/ financial stability according to the national scale. The rating outlook is stable. The Expert RA credit rating has been assigned to Severstal for the first time. The rating is assigned on the Russian national scale and is long-term.

As the rating agency notes, the assignment of the ruAAA rating is due to one of the highest EBITDA margin of 37%, high rates of return on assets and capital on adjusted net income, low debt and a comfortable repayment schedule. The agency also positively assesses the indicator of forecast liquidity, dividend policy, indicators of current and “stressful” liquidity and the company’s debt portfolio. Expert RA also positively assessed the corporate risks block due to the high quality of its strategic support, information transparency and risk management.