Standard & Poor’s Ratings Services raised its long-term corporate credit rating on MMC Norilsk Nickel to “BBB-” from “BB+”. The 'BBB-' rating is the highest level among private corporations in Russia. The outlook is stable. At the same time, the 'ruAA+' national scale rating on Norilsk Nickel was affirmed.

The $500 million notes maturing in 2009 were issued by Norilsk Nickel Finance Luxembourg, a special purpose entity incorporated in Luxembourg. The rating on the notes is equalized with the corporate credit rating on Norilsk Nickel at 'BBB-'. In December last year international rating agency Fitch Ratings Ltd. assigned MMC Norilsk Nickel a Senior Unsecured ‘BBB-’ (BBB minus) rating with Stable Outlook.

Aggregate of all ratings assigned (Fitch – «ВВB-», Moody's - «Ва1» and Standard & Poor’s - «BВВ-») gives MMC Norilsk Nickel the highest rating among privately owned Russian companies. These ratings reflect unique resource base, strong financial profile of MMC Norilsk Nickel, wise management’s decisions, as well as the company's strong positions in the global markets of nickel, palladium, platinum, and copper.