Companies@UA: База компаний Украины

Kyiv, January 22 (Interfax) - The Metinvest Group, which combines the mining and steel assets of Ukrainian conglomerate System Capital Management, has begun preparations to receive an international rating for its management firm, Metinvest Holding.

"By the end of the first half of the year we plan to have an audited financial statement and the preliminary results of a credit assessment. In the second half, we expect the official publication of the holding company's rating," Metinvest Holding financial director Serhiy Novikov said in a company press release.

He said the rating agency will be able to assess the effectiveness of corporate governance instruments at the level of the holding company and present its conclusions in the form of a rating.

A Metinvest spokesman told Interfax that the company plans to secure international ratings from Standard & Poor's, Fitch and Moody's.

"After this, there will probably be a review of the rating of Azovstal and eurobonds," Novikov said, commenting on S&P's confirmation last week of the B2- rating of the group's Azovstal steel works, with a positive outlook. S&P said the plant's rating might be upgraded after the agency reviews the system of corporate governance at the holding company.

"The confirmation of the rating and the outlook shows that Azovstal is a financially strong company that is attractive for investors, and fulfils all its obligations to partners, including investors, on time and in full," Metinvest said in the press release.