S&P rates Metalloinvest BB-

Standard & Poor's said it assigned a BB- long-term corporate credit rating to JSC Holding Co. Metalloinvest.

The outlook is positive.

The rating is constrained by the company's exposure to cyclical commodity markets, its sizable absolute debt resulting from its plan to acquire the 20% of its own shares currently held by a Russian bank and still evolving corporate governance, S&P said.

These constraints are partly offset by Metalloinvest's solid domestic market position, high vertical integration and low cost position, the agency said.

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