S&P: Novolipetsk outlook up to stable

Standard & Poor's said it revised its outlook on OJSC Novolipetsk Steel to stable from negative.

The agency added that the BBB- long-term corporate credit and debt ratings were affirmed.

At the same time, the Russia national-scale rating was raised to ruAAA from ruAA+, S&P said, noting that it also rated the proposed RUB 10 billion of series six bonds at BBB-, in line with the corporate credit rating.

"The rating actions reflect its view that NLMK's operating performance will likely stabilize this year, albeit at a lower level than in 2008," said S&P credit analyst Andrey Nikolaev.

© 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.