S&P: Alrosa view now positive

Standard & Poor’s said it revised its outlook on Alrosa OJSC to positive from negative and affirmed the BB- long-term and B short-term corporate credit ratings on the company.

The outlook revision reflects Alrosa’s stronger-than-expected operating performance and S&P’s revised base-case scenario for 2015-2017.

“We think the current market conditions, coupled with ruble devaluation, could largely mitigate the volatility of the diamond industry and support materially stronger credit ratios than we previously anticipated, including a ratio of funds from operations to debt consistently above 45%,” S&P said in a news release.

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