S&P revised its outlook on Metalloinvest
According to S&P’s latest report, the upgrade to a Stable outlook reflects positive iron ore price trends, as well as actions taken by Metalloinvest’s management team to deleverage and the Company’s high profitability, which remains above the industry average.
S&P’s analysts maintained their view that the Company is well positioned in the iron ore product market due to its low production costs, vast iron ore reserves and diverse customer base, as well as the premiums charged for value-added products (such as pellets and HBI/DRI) and the advantages of vertical integration.
S&P also affirmed its ‘BB’ issue rating on Metalloinvest’s $1 bn senior unsecured notes due 2020.
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