LUXEMBOURG, March 29, 2021 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE and Mexico: TS and MTA Italy: TEN) filed today its 2020 Annual Report and its 2020 Sustainability Report with the Luxembourg Stock Exchange and with the other securities regulators of the markets where its securities are listed. These two reports (which contain all the financial and non-financial information required by applicable Luxembourg law for the year ended December 31, 2020, including Tenaris’s consolidated financial statements as of and for the year ended December 31, 2020, Tenaris’s annual accounts as at December 31, 2020, and their related external auditors’ reports and consolidated management report and certifications) may be downloaded from the Luxembourg Stock Exchange’s website at www.bourse.lu/regulated-information-oam and are available on Tenaris’s website at ir.tenaris.com. Tenaris will also file tomorrow, March 30, 2021, its annual report on Form 20-F for the year ended December 31, 2020, with the U.S. Securities and Exchange Commission (SEC). The 20-F annual report will be available to be downloaded from the SEC’s website at www.sec.gov and from Tenaris’s website at ir.tenaris.com. Holders of Tenaris’s shares and ADSs, and any other interested parties, may request a hard copy of any of these reports, free of charge, through our website at ir.tenaris.com/tools/printed-materials. Tomorrow, March 30, 2021, Tenaris will also be convening its Annual General Meeting of Shareholders to be held on May 3, 2021, at 15:30 (Central European time). The convening notice (which includes the meeting agenda and the procedures for voting at the meeting) can be downloaded from the Luxembourg Stock Exchange’s website at www.bourse.lu/regulated-information-oam. The following documents will be available on Tenaris’s website at ir.tenaris.com as of the date of the convening notice: information on Tenaris’s total number of shares and voting rights as of the date of the convening notice;the Shareholder Meeting Brochure and Proxy Statement (which contains reports on each item of the meeting agenda and draft resolutions proposed to be adopted at the meeting),the 2020 Annual Report;the 2020 Sustainability Report;the 2020 Compensation Report; and the forms required for purposes of voting at the Annual General Meeting of Shareholders. Copies of these documents are also available, free of charge, at Tenaris’s registered office in Luxembourg, between 10:00 and 17:00 CET, subject to restrictions imposed from time to time by Luxembourg authorities due to Covid-19. In addition, shareholders registered in the Company’s share register may obtain electronic copies of such documents, free of charge, by sending an e-mail request to email@example.com. Tenaris is a leading global supplier of steel tubes and related services for the world’s energy industry and certain other industrial applications. Giovanni SardagnaTenaris 1-888-300-5432www.tenaris.com
Rating Action: Moody's stabilises TMK's outlook, affirms B1 ratingsGlobal Credit Research - 15 Mar 2021London, 15 March 2021 -- Moody's Investors Service ("Moody's") has today affirmed the B1 corporate family rating (CFR), B1-PD probability of default rating (PDR) of PAO TMK (TMK), one of the world's largest producers of steel pipe products for the oil and gas industry. Concurrently Moody's affirmed the B1 senior unsecured rating of the notes issued by TMK Capital S.A., a wholly owned subsidiary of TMK. TMK will pay RUB84.2 billion (over $1.1 billion) for the acquired stake using cash on its balance sheet and acquisition financing, valuing 100% of the ChelPipe's equity at over RUB97 billion and the enterprise value (including estimated pro-forma net debt) at about RUB157 billion.
Tenaris (TS) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.