Fitch Ratings confirms investment grade 'BBB-' rating on MMC Norilsk Nickel

On November 5 international rating agency Fitch Ratings (hereinafter – Fitch) confirmed MMC Norilsk Nickel’s investment grade credit rating at the level of 'BBB-' .The Outlook changed from negative to stable.

According to Fitch the Outlook change reflects increase in metals pricing, further strengthening of Norilsk Nickel’s liquidity profile, and the agency’s confidence that Norilsk Nickel will be able to refinance its debt maturities due in 2010. Fitch also expects the Company to maintain a conservative stance in terms of costs policy and remain cash flow positive during 2010.