Fitch lifts Kazan view to positive

Fitch Ratings said it affirmed Kazan OJSC’s (Kazanorgsintez SA) issuer default rating at B and revised the outlook to positive from stable.

Fitch also said it affirmed the company’s short-term issuer default rating at B.

The outlook reflects expectations that the company will maintain funds-from-operations net adjusted leverage at a conservative level of less than 2x, the agency said.

The outlook could be revised back to stable if the company’s post-2017 investment strategy results in a more leveraged credit profile, Fitch said.

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