Moscow, 07 October 2016 – UC RUSAL (SEHK: 486; Euronext: RUSAL/RUAL; Moscow Exchange: RUAL/RUALR), a leading global aluminium producer, has been assigned a corporate family rating (“CFR”) of Ba3 and probability of default rating (“PDR”) of Ba3-PD by Moody’s. The outlook on the ratings is stable and is the first RUSAL has been assigned.

The Ba3 rating reflects RUSAL’s leading position in the global and domestic aluminium markets, geographical diversification of assets and sales, self-sufficiency in raw material supply, low cash costs and energy consumption costs, and large share of value added products in its total output. It also reflects the fair value of RUSAL’s investment in Norilsk Nickel.  In addition, it notes the Company’s fairly conservative financial policy, positive free cash flow and adequate liquidity.

Based on analysis of RUSAL’s business and its solid positioning in the industry coupled with its global economic outlook, Moody’s expects that RUSAL will continue to stick to its financial policy, generate positive cash flow and maintain healthy liquidity.

“The assignment of the Ba3 rating by Moody’s, one of the most renowned international rating agencies with worldwide recognition, serves as additional testimony to the Company’s strong market position, effective management policy and clear strategy. We believe that the assigned rating is a good start for the Company’s credit rating story, which will be positively received by the investment community and will support the Company’s position on capital markets” commented Oleg Mukhamedshin, UC RUSAL’s Deputy CEO, Director for Strategy, Business Development and Financial Markets.

Note

Moody's Corporation, often referred to as Moody's, is an American business and financial services company. It is the holding company for Moody's Investors Service (MIS), an American credit rating agency, and Moody's Analytics (MA), an American provider of financial analysis software and services. Moody's was founded in 1909 to produce manuals of statistics related to stocks and bonds and bond ratings.

Credit ratings issued by Moody's investors service and its ratings affiliates are Moody’s current opinions of the relative future credit risk of entities, credit commitments, or debt or debt-like securities, and credit ratings and research. It is one of the most valuable financial rating globally.