Moody’s changes Metalloinvest to positive

Moody's Investors Service said it changed the outlook on the ratings of Holding Co. Metalloinvest to positive from stable.

Concurrently, the agency affirmed the company’s Ba2 corporate family rating, Ba2-PD probability of default rating and the Ba2 senior unsecured ratings assigned to the notes issued by Metalloinvest Finance DAC, a wholly owned indirect subsidiary of Metalloinvest.

The outlook of Metalloinvest Finance was also changed to positive from stable.

"We have changed the outlook on Metalloinvest's ratings to positive to reflect the company's deleveraging in 2017, following the boost to its earnings and cash flow generation from higher prices for iron ore and steel and increased production of high value-added iron ore products," Moody’s vice president, senior credit officer Artem Frolov said in a news release.

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