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We reiterate our buy recommendation on MMK, a large steel producer in Russia, due to the companyâs strong credit fundamentals and the attractive relative value of the companyâs 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...
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Sven Kreitmair @ UniCredit 18 May 2021
MMC Norilsk Nickel PJSC produces nickel, palladium, platinum, and copper. The Company also produces various by-products such as cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium, and sulfur.
MMC Norilsk Nickel PJSC