S&P suspends three Ukrainian issuers

S&P said it suspended its ratings on three Ukrainian mining and metals producers, citing the ongoing war with Russia.

The companies are Ferrexpo, Interpipe and Metinvest, which were rated B- and on CreditWatch with negative implications.

“At this stage, any short-term resolution of the conflict is uncertain, and we cannot rule out the possibility that things could further deteriorate before the conflict is ultimately resolved. Therefore, we consider it extremely difficult to properly assess the companies' business continuity, integrity, and future cash flow,” S&P said in a press release.

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