Fitch rates Kazanorgsintez notes B

Fitch Ratings said it assigned Kazanorgsintez SA's $200 million five-year loan participation notes due in October 2011 a final senior unsecured B rating, and affirmed its issuer default rating at B and short-term rating at B.

The outlook is stable.

The purpose of the company is to issue the notes and lend, under a loan agreement, the proceeds to OJSC Kazanorgsintez. The proceeds will be used for refinancing certain indebtedness and to fund capital expenditure.

The company is one of the leading Russian petrochemical producers based in the Republic of Tatarstan, which is rated BB, and is focused on the manufacturing of commodity chemicals such as ethylene.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.