PAO Severstal: S&P Global Ratings downgraded Severstal's credit rating

S&P Global Ratings downgraded Severstal's credit rating

PAO Severstal (MOEX: CHMF; LSE: SVST) notifies that S&P Global Ratings lowered its foreign and local currency credit ratings on Severstal to ' CCC-, outlook negative' from 'BBB-, outlook stable' and placed them on CreditWatch Negative, after similar action on sovereign rating.

The full announcement is available at S&P website

https://www.spglobal.com/ratings/en/index 

For further information, please contact:

Severstal Investor Relations

Vladimir Zaluzhsky, Nikita Klimantov

T: +7 (495) 926-77-66

vladimir.zaluzhsky@severstal.com; na.klimantov@severstal.com

Severstal Public Relations

Anastasia Mishanina

T: +7 (495) 926-77-66

anastasia.mishanina@severstal.com

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P Severstal is one of the world's most efficient metals and mining companies, working with customers and partners to create new products and integrated solutions from steel. The company's assets are located in Russia, Latvia and Poland. Severstal is listed on MOEX and the company's GDRs are traded on the LSE. Severstal reported revenue of $11.6 million and EBITDA of $6 bln in 2021. Severstal's crude steel production in 2021 reached 11.6 million tonnes.