MMC Norilsk Nickel PJSC

Follow

Top Credit Stories Alrosa (ALRSRU) - Reports lackluster January sales BBVA (BBVASM) - Aquires further 21.7% stake in Brazil’s Neon Pagamentos for USD 300mn BHP Billiton (BHP) - Strong performance in 1H and positive outlook Cap Gemini ...

Top Credit Stories Assicurazioni Generali (ASSGEN) - Announces ambitious targets for 2022-2024 BT (BRITEL) - Drahi raises stake Bayer (BAYNGR) - As expected, S&P confirms BBB rating with a stable outlook French Banks - France's HCSF i...

We reiterate our buy recommendation on MMK, a large steel producer in Russia, due to the company’s strong credit fundamentals and the attractive relative value of the company’s USD bonds relative to the Russian and emerging market peers. MMK repo...

We confirm our buy recommendation for Norilsk Nickel and its USD-denominated bonds due to attractive valuations and strong metal prices. Norilsk Nickel is a large polymetal mining business, with a 35% market share in palladium (largest producer globa...

In this report, we focus on the relative value analysis and also share our forecasts for year-end 2021 net leverage. We are constructive on the Russian credit in our coverage and prefer IG and strong double-B. Most Russian companies in our coverage a...

Top Credit Stories AT&T (T) - Confirms spin-off of WarnerMedia Ardagh (ARGID) - Cyber security breach not to endanger full-year targets Assicurazioni Generali (ASSGEN) - Operating income up 11% yoy to EUR 1.61bn and Solvency ratio improve...