S&P changes Ferrexpo to positive

S&P said it revised the outlook on Ferrexpo plc to positive from stable and affirmed the B-/B long- and short-term corporate credit ratings.

The agency also affirmed the B- long-term rating on the senior unsecured debt issued by Ferrexpo Finance plc.

The outlook revision reflects the supportive iron ore pellet market, which suggests 2018 will be another strong year for Ferrexpo, S&P explained.

The agency said the outlook also reflects the improvement in the company’s liquidity profile with the signing of a new $195 million pre-export finance facility last month.

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