S&P affirms Eurasian Resources

Standard & Poor’s said it affirmed its long- and short-term corporate credit ratings on Eurasian Resources Group Sarl at B-/B and removed the ratings from CreditWatch, where they were placed with negative implications on April 13.

The outlook is negative.

S&P said the affirmation reflects its view of ERG's “weak” liquidity and the elevated risk of a debt restructuring over the coming months, balanced by S&P’s higher assessment of potential extraordinary support for ERG from the Kazakh government.

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