Press Releases

Mechel’s Credit Rating Confirmed

Moscow, Russia – November 2, 2023 – Mechel PAO (MOEX: MTLR), one of the leading Russian mining and metals companies, announces that Analytical Credit Rating Agency ACRA confirmed Mechel its A(RU) credit rating, changing the outlook to positive.

In its official report, ACRA noted that its outlook regarding Mechel PAO’s credit rating changed from stable to positive due to positive deleverage dynamics. In 2019-2022, Mechel’s free cash flow was positive, which enabled the company to decrease its debt portfolio. ACRA’s prognosis for 2023-2025 is based on the assumption that Mechel PAO’s free cash flow will remain positive, which will enable the company to further reduce its debt.

ACRA’s experts noted Mechel PAO’s “strong market position” as well as a “strong business profile”. The agency estimates that the company’s own primary commodity’s share in the prime cost is more that 70%. The company’s degree of self-sufficiency is 141% in coal, 30% in iron ore, 147% in coke and 70% in electricity. The average share of high value added products over the past four years amounted to 31%, while exports provided for 31% of the total revenue.

The positive outlook suggests with a high degree of probability that the rating will go up within the next 12-18 months. 

ACRA assigned Mechel PAO its credit rating for the first time in 2022. 


Mechel PAO
Ekaterina Videman
Tel: + 7 495 221 88 88


Mechel is an international mining and steel company. Mechel unites producers of coal, iron ore concentrate, steel, rolled products, ferroalloys, heat and electric power. All of its enterprises work in a single production chain, from raw materials to high value-added products.