Moody’s revises SUEK to positive

Moody's Investors Service said it changed the outlook on the ratings of SUEK JSC to positive from stable.

Concurrently, the agency affirmed SUEK's Ba3 corporate family rating, Ba3-PD probability of default rating and the Ba3 (LGD 4) senior unsecured ratings assigned to the bonds issued by SUEK Finance, a wholly owned subsidiary of SUEK.

"We have changed SUEK's outlook to positive mainly on the back of its deleveraging since the beginning of this year, as well as our expectations that it will continue to reduce leverage, follow a prudent financial policy and maintain sufficient liquidity," Moody’s vice president, senior credit officer Artem Frolov said in a news release.

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