Moody's reaffirms the credit rating of MMC Norilsk Nickel

MMC Norilsk Nickel is pleased to announce that having analyzed the Company’s current financial and operating performance the Moody’s Investors Service (hereinafter – Moody’s) reaffirmed its 'Baa2' rating assigned to the Company. Moody’s has changed its long-term credit outlook from negative to stable.

According to Moody’s, in 2011 MMC Norilsk Nickel demonstrated stable operating and financial results – revenues increased by 11% with EBITDA largely matching previous year results, while the Company still maintains comfortable level of debt.

The stable outlook reflects Norilsk Nickel’s strong cost position, which will continue to positively affect the company’s profitability and free cash flow generation. In combination with the diversified basket of metals this supports Norilsk Nickel’s strong credit profile even in the environment of volatility in metal prices.

ABOUT MMC NORILSK NICKEL

MMC Norilsk Nickel, a company incorporated under the laws of the Russian Federation, is the largest diversified mining and metals company in Russia, the world's largest producer of nickel and palladium and one of the world's largest producers of platinum, rhodium, copper and cobalt. In addition to this, MMC Norilsk Nickel produces a large number of other by-products, including gold, silver, tellurium, selenium, iridium and ruthenium.

The key production units of the Company’s group in Russia are at the Taimyr and Kola Peninsulas. MMC Norilsk Nickel international assets include operations in Finland, Australia, Botswana and South Africa.

MMC Norilsk Nickel’s shares are traded at MICEX-RTS. ADR’s on the Company’s shares are traded on the other the counter market in the US and at the London and Berlin stock exchanges.