OJSHC Yаkutugolhttp://www.mechel.ru/shareholders/disclosure/yakutugol/
Yakutugol Holding Company established in 2003 on the basis of state unitary enterprise Yakutugol has been part of the Mechel-Mining holding since 2008. OJSC Mechel-Mining currently holds 100% of the shares in Yakutugol Holding Company. Today, being one of Russia’s largest coal mining companies, Yakutugol Holding Company is one of the few domestic producers of hard coking coals. The Company has all the necessary licenses for coal mining operations. If demand is sufficient, the Company’s total annual coal output reaches 11.5 million tonnes. Yakutugol Holding Company’s surface and underground mines account for about 80% of all the coal output in the Sakha Republic / Yakutia. The Company exports a large part of its clean coal. Yakutugol Holding Company operates four mining enterprises: the Neryungrinsky mine, the Kangalassky mine, the Dzhebariki Khaya underground mine and the Elga Coal Complex, the Neryungrinskaya Coal-Washing Plant, as well as auxiliary enterprises and facilities supporting the primary activity (motor depot for the company’s transport vehicles, loading and transportation department, repair office/shop, commercial department, etc.).
Rating Actions02.06.2015AK&M Rating Agency has withdrawn the 'B+' national scale credit rating (negative outlook) of OJSHC Yakutugol following the rating expiration and the Company's refusal to have the rating updated.
CJSC AK&M Rating Agency
Ul. Gubkina 3, Moscow, Russia
www.akmratin28.05.2015The rating downgrade reflects the absence of progress in the settlement of the tremendous debt plaguing Mechel OAO Group which includes OJSHC Yakutugol. This failure is proven by the numerous legal actions brought by the group's principal lenders against the parent company and subsidiaries inclu10.10.2014The downgrade decision was motivated by the actual failure to settle the tremendous debt of the holding's parent company Mechel OAO reaching 8 billion US dollars, the net debt to EBITDA multiple being more than 11x (as of April 1, 2014). The said failure is proven by the numerous legal actions b25.07.2014Joint-Stock Holding Company Yakutugol is one of Russia's biggest coal mining companies. It operates four mining enterprises: the Neryungrinsky mine, the Kangalassky mine, the Dzhebariki Khaya underground mine and the Elga Coal Complex, the Neryungrinskaya Coal-Washing Plant, as well as auxiliary17.07.2013The ‘A’ rating indicates that Yakutugol Holding Company qualifies as a highly reliable borrower. Risk of a delay in meeting liabilities is relatively low, restructuring risk for a loan / part of a loan is minimal.
We appreciate the higher assets, growing coal output, acceptable interest30.07.2012The ‘A’ rating indicates that OJSC Holding Company Yakutugol is qualified as a highly reliable borrower. Risk of a delay in meeting liabilities is relatively low, restructuring risk for a loan / part of the loan is minimal.
The rating score is supported by the comfortable and still incre
