Metalloinvest, a leading global iron ore and hot briquetted iron (HBI) producer based in Russia, has announced that global ratings agency Standard & Poor’s (S&P) has revised the company’s outlook to positive from stable, while affirming the company’s ‘BB+’ long-term corporate credit rating.
According to a statement published by S&P, the revision of Metalloinvest’s outlook reflects the company’s debt reduction, as well as the resilience achieved in its operating and financial results in 2020, despite the challenging market conditions.
S&P’s analysts expect that Metalloinvest will continue to demonstrate a robust performance in 2021, given the favourable market conditions which will support further debt reduction.