International credit ratings agency Fitch Ratings has announced that it has revised the outlook of Russian pig iron and coking coal producer Industrial Metallurgical Holding (KOKS Group) to stable from negative and has simultaneously affirmed its long-term credit ratings at 'B'.
Fitch stated that the stable outlook of the company reflects the diminished liquidity risk following its placement of $500 million worth of bonds due in 2022, with the proceeds used to refinance primarily short-term facilities, while debt repayments remain at manageable levels of around RUB 2 billion in the current year and RUB 9 billion in 2018.