CREDIT RATING WITHDRAWAL RATIONALE
The credit rating of the series ZO-2024 (RU000A105H64) bond issue of Public Joint Stock Company Magnitogorsk Iron & Steel Works has been withdrawn due to the full redemption of this issue on June 13, 2024. Previously, in accordance with ACRA’s methodology, the credit rating of the issue was affirmed on par with the credit rating of Public Joint Stock Company Magnitogorsk Iron & Steel Works — AA+(RU). The credit rating has been withdrawn without its concurrent affirmation.
REGULATORY DISCLOSURE
The credit rating has been assigned to the series ZO-2024 (RU000A105H64) bond issue of Public Joint Stock Company Magnitogorsk Iron & Steel Works under the national scale for the Russian Federation based on the Methodology for Assigning Credit Ratings to Financial Instruments under the National Scale for the Russian Federation and the Key Concepts Used by the Analytical Credit Rating Agency within the Scope of Its Rating Activities.
The credit rating of the series ZO-2024 (RU000A105H64) bond issue of Public Joint Stock Company Magnitogorsk Iron & Steel Works was published by ACRA for the first time on November 24, 2022.
The credit rating was assigned based on data provided by Public Joint Stock Company Magnitogorsk Iron & Steel Works, information from publicly available sources, and ACRA’s own databases. The credit rating is solicited and Public Joint Stock Company Magnitogorsk Iron & Steel Works participated in its assignment.
In assigning the credit rating, ACRA used only information, the quality and reliability of which were, in ACRA’s opinion, appropriate and sufficient to apply the methodologies.
ACRA provided additional services to Public Joint Stock Company Magnitogorsk Iron & Steel Works. No conflicts of interest were discovered in the course of credit rating assignment.
