- Language: English
- Published: November 2012
- Region: Russia
Summary: OJSC NLMK Apr 11
- Published: April 2011
- Standard & Poors
The rating on vertically integrated Russian steel producer OJSC NLMK reflects Standard & Poor's Ratings Services' assessment of the company's business risk profile as "satisfactory" and its financial risk profile as "intermediate." NLMK's business risk profile benefits from a superior cost position, partial vertical integration, and the good diversity of export markets. NLMK's business risk profile is constrained by the cyclicality of the global steel sector, NLMK's concentrated asset base, with the Lipetsk operations generating most of the EBITDA, lack of vertical integration in coking coal, and country risks in the Russian Federation (foreign currency BBB/Stable/A-3, local currency BBB+/Stable/A-2; Russia national scale 'ruAAA'). NLMK's intermediate financial profile is underpinned by a strong balance sheet, the commitment to which we believe...
Companies mentioned in this report are:
- OJSC NLMK
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- OJSC NLMK