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.
