Moody’s upgrades Ferrexpo

Moody’s Investors Service said it upgraded the corporate family rating of Ferrexpo plc to B2 from B3 and its probability of default rating to B2-PD from B3-PD.

Concurrently, Moody’s changed the outlook to negative from positive.

The rating action follows Moody’s upgrade of Ukraine’s long-term issuer and senior unsecured ratings to B3 from Caa1, the agency said.

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