31.05.2016 17:27:00

NLMK -- Moody's assigns Ba1 rating to NLMK group's proposed notes

London, 31 May 2016 -- Moody's Investors Service (Moody's) has today assigned a Ba1 rating (LGD 3) to the senior unsecured loan participation notes to be issued by Steel Funding Limited for the sole purpose of financing a loan to NLMK (Ba1 negative). NLMK intends to use the proceeds from the loan primarily to finance the repurchase of part of Steel Funding's existing $800 million notes due 2018 and $500 million notes due 2019, under the tender offer announced on 31 May 2016.

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