BAKU, Azerbaijan, July 22. Uzbekistan's
Uzmetkombinat held talks with S&P Global Ratings in New York on
the company's development strategy, investment projects and plans
to obtain a second international credit rating.
This was reflected in the statement by the Uzmetkombinat
following a meeting between Chairman and Chief Executive Officer
Bahodir Abdullayev, Deputy Chairman for Finance, Economics and
Transformation Hasan Haydarov, and representatives of the
international credit rating agency.
During the discussions, the parties reviewed the company's
long-term development plans, implementation of investment projects,
government support measures and preparations for securing a second
international credit rating.
"The parties also exchanged views on strengthening cooperation,
expanding engagement with international financial institutions and
investors, and enhancing the company's investment attractiveness,"
Uzmetkombinat said in a statement.
Company executives also briefed S&P Global Ratings on the
outcome of Uzbek President Shavkat Mirziyoyev's recent visit to
Uzmetkombinat, highlighting the launch of a hot-rolled steel
production complex, ongoing efforts to expand manufacturing
capacity, strengthen the company's raw material base and improve
its financial position.
According to the company, the modernization program is intended
to increase domestic steel production while reducing dependence on
imported raw materials and supporting Uzbekistan's broader
industrial development strategy.
The discussions also focused on measures aimed at improving the
company's access to international capital markets and broadening
its relationships with global investors. Obtaining an additional
international credit rating is expected to provide investors with
an updated independent assessment of the company's financial
profile and support future financing initiatives.
S&P Global Ratings is one of the world's three leading
international credit rating agencies, alongside Moody's Ratings and
Fitch Ratings. Credit ratings issued by the agency are widely used
by global investors to evaluate the creditworthiness of companies
and sovereign borrowers.
The meeting reflects Uzmetkombinat's broader efforts to
strengthen corporate governance, improve financial transparency and
diversify its funding sources as it advances large-scale investment
projects. Expanding engagement with international rating agencies
and financial institutions is expected to enhance the company's
visibility in global capital markets and support Uzbekistan's
strategy of attracting foreign investment into its industrial
sector.
