S&P has lowered the rating of Metalloinvest

S&P has changed the forecast of credit ratings of Metaloinvest from “stable” to “negative”, the agency reports.

The long-term ratings in foreign and national currency have been confirmed at “BB” level.

“We have reconsidered the forecast due to the growing uncertainty connected with the fall of prices for iron ore, the rise of the country risk of Russia and restriction of the access of Russian companies to the capital market. We have confirmed the ratings as we think that the weakening of the Russian rouble and a favorable assortment of products keep positively influencing on the results of Metalloinvest”, is reported.