Moody's rates Metalloinvest notes Ba3

Moody's Investors Service said it assigned a provisional Ba3 rating (LGD 3, 46%) to up to $2 billion worth of proposed new notes of Metalloinvest Finance Ltd., a wholly owned indirect subsidiary of joint-stock holding company Metalloinvest.

The proceeds from the issuance will be on-lent to other companies of the Metalloinvest group to repay existing indebtedness and for general corporate purposes, the agency said.

The ratings reflect that the notes will rank pari passu with the claims of all the present and future unsecured and unsubordinated creditors of the group, Moody's said.

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