International rating agency Fitch Ratings has revised the outlook on the credit rating of JSC Navoi Mining and Metallurgical Company (NMMC) from “Stable” to “Positive” and affirmed the company’s Long-Term Issuer Default Rating at “BB”.

The agency’s decision follows the upgrade of the outlook on the sovereign credit rating of the Republic of Uzbekistan.

The outlook revision reflects the company’s strong financial performance, its strategic importance to the national economy, and the close linkage between the company’s creditworthiness and the sovereign rating of the Republic of Uzbekistan.

The affirmation of the “BB” rating and the improvement of the outlook to “Positive” demonstrate continued confidence among international investors and a high assessment of the financial resilience of NMMC by the international rating agency.

Link to the Fitch press release:

https://www.fitchratings.com/research/international-public-finance/fitch-revises-2-natural-resources-uzbek-corporates-outlooks-to-positive-on-sovereign-action-17-06-2026

PRESS RELEASE

The Press Service