Ratings




CREDIT RATINGS


Leading credit rating position in Russia

Credit Agency
Credit Rating
Raised
Confirmed
Fitch Ratings
BBB-
December 2005
November 2009
Standart & Poor's
BBB-
August 2006
February 2009
Moody's
Baa2
October 2006
October 2009


Credit ratings assigned or upgraded by Fitch

Credit rating
Date
BBB-
November 2009

 BBB-

 August 2009

 BBB-

 March 2009

BBB-
August 2007
BBB-
June 2007
BBB-
December 2005


Credit ratings assigned or upgraded by Standard and Poor’s

Credit rating
Date
BBB-
February 2009
BBB-
October 2008
BBB-
August 2008
BBB-
March 2008
BBB-
December 2007
BBB-
August 2006
BB+
August 2005
BB
August 2004


Credit ratings assigned or upgraded by Moody’s

Credit ratings
Date
Baa2
October 2009

Baa2

 December 2008

Baa2
October 2007 
Baa2
June 2007
Baa2
October 2006
Ba1
August 2004


BOND INFORMATION

At 30 September 2009 Norilsk Nickel Finance Luxembourg S.A. retired a USD 500 million issue of Eurobonds and paid a coupon yield for the settlement date in the amount of USD 17.8 million. These funds were distributed among Eurobonds holders by authorized agents Deutsche Bank AG and London Deutsche Bank Luxembourg S.A.

The first five-year issue of Eurobonds for the total value of USD 500 million was offered in September 2004. The six-month coupon rate was 7.125% per annum. The bonds were issued by Norilsk Nickel Finance Luxembourg S.A., a special purpose vehicle registered in Luxembourg. MMC Norilsk Nickel unconditionally and irrevocably guaranteed the Eurobonds. Proceeds of the bonds issue were used as financing for general corporate needs and investment projects of Norilsk Nickel Group


Rating agency
Rating/ Forecast
Date of last change/ upgrade of rating
Standard&Poor's International Services
BBB- / Stable
August 8, 2006
Moody's Investors Service Ltd.
Baa2 / Stable
October 9, 2006
Fitch Ratings Ltd.
BBB- / Stable
November 2, 2006