ACRA upgrades IMH's rating to A (RU)
Industrial Metallurgical Holding (IMH) announces that ACRA has upgraded corporate rating of PJSC Koks (IMH’s parent company) to ‘A’ with a stable outlook from ‘A-‘/ Stable.
The rating upgrade reflects significant improvement of IMH’s financial performance in 1H 2021, with operating cash flow, EBITDA and profit margin significant growth, in particular. At the backdrop of profitability increase, the Company’s leverage reduced. According to ACRA’s statement, the Company’s rating is underpinned by its strong business profile including high degree of vertical integration, advantageous geographical location of Tulachermet and market flexibility.
«Our strong financial metrics achieved within 1H 2021 have now been reflected in the rating upgrades from the two of three rating agencies watching the Company. This is the result of our efficient business strategy and the ability to respond rapidly to the market and institutional changes», - said Sergey Frolov, vice-president for strategy and communications.