Press releases

Press releases


RUSAL's Panda bonds awarded AAA rating
02.07.2019

Moscow, 02 July 2019  – RUSAL (SEHK: 486; Moscow Exchange: RUAL), a leading global aluminium producer, announces that it has been upgraded to an AAA corporate credit rating,  (from an AA+ rating) with Stable outlook by China Chengxin Securities Rating Co., Ltd. (“CCXR”), China’s leading credit rating agency.

The upgrade reflects RUSAL’s improved financial strength and outlook, alongside the Company’s stability in spite of adverse economic conditions. The stable outlook takes into account possible changes in economic or business fundamentals, indicating the medium to long-term trend of the Company’s credit rating.

CCXR analysts acknowledged RUSAL’s economies of scale and high degree of vertical integration, which provide significant advantages in both production costs and the Company’s sales network. The rating report also takes into account the positive benefit of RUSAL’s ability to implement its diversification approach, which enhances the Company’s financial ability to withstand economic volatility. It also reflects the Company’s continued dividend payments from associates coupled with joint ventures which provide a favorable contribution to RUSAL’s core earnings and cash flows.  

As well as affirming the Company’s financial strength, the AAA rating assigned to RUSAL by CCXR demonstrates the confidence of the financial community in relation to RUSAL’s robust business. The upgrade also helps to support the Company’s long-standing relationship with its Asian partners and investors.

In 2017, RUSAL registered its prospectus for a Renminbi denominated bonds issue (Panda bonds), totaling up to 10 billion yuan with a tenor of up to 7 years. During the same year, the Company placed two tranches of the Renminbi denominated bonds issue (Panda bonds) totaling up to RMB 1.5 billion.


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