Metalloinvest, a leading global iron ore and HBI (hot briquetted iron) producer based in Russia, has announced that Standard & Poor's Ratings Services ("S&P") has upgraded the company's long-term corporate credit rating from ‘BB-' to ‘BB' with a stable outlook.
According to the S&P published statement, the rating action reflects that Metalloinvest has recently established a track record of more predictable financial policies and has improved its debt maturity profile.
At the same time, S&P raised the issue rating on the senior unsecured notes issued by Metalloinvest Finance Ltd to 'BB' from 'BB-'.