Fitch - Latest news GMK Center

For 2024-2026, the forecasts remained unchanged – $85/t, $75/t and $70/t, respectively

As the agency expects, iron ore quotations in the current year will be $125/t

It is expected that in the current year the price will be $350/t

The updated expectations reflect a decline in global steel production

The rating was revised in connection with the postponement of repayment of $6 billion of Ukraine's external debt

Their ratings came close to critical for our country

But Fitch also notes the company's satisfactory liquidity and expects free cash flow in 2022-2024 to be neutral

The rating was downgraded to 'RD' after the expiration of the grace period for coupon payments on Eurobonds in 2027

The share of the steel sector in the gross domestic product reaches 2.3%

Both agencies say the outlook is stable