Mechel OAO founded 2003 is one of the largest mining and metallurgical companies in Russia and worldwide. The Company is on the list of the backbone enterprises of Russia. Mechel OAO is a vertically integrated holding comprising four business segments (mining, metallurgical, ferroalloy industry and power engineering) with production assets in Russia and abroad. The Company's mining enterprises produce and sell coal, iron-ore concentrate and coke. Mechel's metallurgical companies are engaged in the production and sale of steel, rolled metal products, cast iron, and metal goods. The ferroalloy unit specializes in the production of ferrosilicon, ferrochrome and nickel. The group also owns commercial ports, as well as marketing, transport and power companies.
|Company, credit rating||Отозван||13.03.2015|
*Date of assignment or revision of the rating
Rating Actions13.03.2015CJSC AK&M Rating Agency has affirmed the national scale credit rating of Mechel OAO at 'B+' with a negative outlook and withdrawn the rating due to its expiration.
Mechel OAO (tax number: 7703370008) founded 2003 is one of the largest mining and metallurgical companies in Russia and wor18.12.2014The negative rating action was motivated by the continuing deterioration of the company's financial strength due to its tremendous loan debt exceeding 7.8 billion US dollars. Furthermore, being saddled with heavy debts, Mechel posted 9-month net consolidated operating loss of 1,218 million US do26.09.2014The negative rating action follows the weakening financial position of the company due to its tremendous loan debt exceeding 8 billion US dollars, the net debt to EBITDA multiple being more than 11x (as of April 1, 2014). Furthermore, the opportunities for the Company to settle its debt without seve04.03.2014The 'A' rating indicates that Mechel OAO qualifies as a highly reliable borrower. Risk of a delay in meeting liabilities is relatively low, restructuring risk for a loan / part of a loan is minimal.
We regard the recent downward trend in the total amount of liabilities and total loan debt, 30.08.2013This negative change was motivated by the Company's heavy debt against the tough financial position represented by the significant losses, shrinking assets, lower equity capital and a reduction in sales revenues as of the last reporting date.
The credit rating, along with any information and 04.12.2012The ‘A’ rating indicates that OJSC Mechel (tax number: 7736520280) is qualified as a highly reliable borrower. Risk of a delay in meeting liabilities is relatively low, restructuring risk for a loan / part of a loan is minimal.
The rating score of OJSC Mechel is essentially supported by27.09.201129.07.201029.07.2009