LONDON/MOSCOW, July 29 - Fitch Ratings has affirmed Metinvest B.V.'s Long-term
foreign currency Issuer Default Rating (IDR) at 'B' with a Negative Outlook.

The rating is constrained by Ukraine's Country Ceiling of 'B'. At the same time, Fitch has affirmed Metinvest's Long-term local currency IDR at 'B+' with a Stable Outlook. The company's Short-term foreign and local currency IDRs are both affirmed at 'B'. Fitch has also downgraded Metinvest's National Long-term Rating to 'AA-(ukr)' from 'AA+(ukr)' and its National Short-term Rating to 'F1(ukr)' from 'F1+(ukr)' due to a recalibration of Fitch's National Ukrainian scale.