OREANDA-NEWS. Standard and Poor’s have raised their rating for Russia’s steel plant in Magnitogorsk, MMP, from BB- to BB due to better operational indicators and the company’s enhanced financial profile. The forecast for elevating the rating is Stable. Simultaneously, MMP’s domestic rating has been also raised from ruAA- to ruAA.

“Higher ratings reflect a gradual improvement in MMP’s production quality, higher operational effectiveness, substantially lower debt share, high liquidity and substantial and stable cash flow,” Standard & Poor’s credit analyst Tatyana Kordiukova says.

Standard & Poor’s believe that MMP’s financial position can withstand likely steel price falls without considerable loss to its solvency.