International credit rating agency S&P Global Ratings (Standard & Poor's Ratings Services) has announced that it has revised its outlook on Metalloinvest, a leading global iron ore and hot briquetted iron (HBI) producer based in Russia, to stable from negative and affirmed its 'BB' long-term corporate credit rating.
S&P stated that the outlook revision of Metalloinvest reflects positive iron ore price trends, as well as actions taken by the company’s management team to deleverage and its high profitability which remains above the industry average.
According to S&P, Metalloinvest’s solid market position and very low production costs will help it maintain credit metrics comfortably within the thresholds for the current rating.