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Novelis Inc. - December 2023 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Novelis Inc.: Credit update following the affirmation of the ratings

Our credit view of this issuer reflects its large scale and significant market position in a number of end markets offset by significant capex program that could lead to higher gross debt

Novelis Inc. - September 2023 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Novelis Inc.: Annual update to credit considerations

Our credit view of this issuer reflects its large scale, leading market positions, pass-through business model and material organic growth pipeline.

Novelis Inc. - June 2023 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Novelis Inc. - March 2023 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Novelis Inc. - December 2022 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Novelis Inc. - September 2022 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Novelis Inc.: Annual update to credit considerations

Our credit view of this issuer reflects its significant size and scale, dominant position in aluminum can packaging segment, offset by its inflationary labor and energy cost pressures.

Novelis Inc. - June 2022 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Novelis Inc. - March 2022 (LTM): Peer Snapshot

Compares key performance metrics against industry peers

Novelis Inc.: Annual update to credit considerations

Our credit view of this issuer reflects its large scale, leading market share, product, operational and geographic diversity and improving balance sheet.

Novelis Inc. - December 2021 (LTM): Peer Snapshot

Compares key performance metrics against industry peers

Novelis Inc. - September 2021 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Novelis Inc. - June 2021 (LTM): Peer Snapshot

Compares Key performance metrics against industry peers

Novelis Inc. - March 2021 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Novelis Inc.: Update to credit considerations following upgrade to Ba3

Our credit view of Novelis reflecting its size and scale, improving earnings and free cash flow generation post Aleris acquisition and expectations of lower leverage in the next 18-24 months

Novelis Inc. - December 2020 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Novelis Inc. - September 2020 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Novelis Inc. - June 2020 (LTM): Peer Snapshot

Peer Snapshot:  Novelis Inc. - June 2020 (LTM) 8 September 2020 (in US millions) FYE Mar-19 FYE Mar-20 LTM Jun-20 FYE Dec-18 FYE Dec-19 LTM Jun-20 FYE Dec-18 FYE Dec-19 LTM

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