MOSCOW, RUSSIA: Metalloinvest, a leading global iron ore and HBI producer and supplier, and one of the regional producers of high-quality steel, today announced that Fitch Ratings has downgraded the Company’s corporate rating to “CC” on March 11th.

According to Fitch’s statement, the rating actions reflect new restrictions that may impair the company’s ability to service debt and follow the agency’s downgrade of Russia’s sovereign rating to “C” on 8 March 2022.