Fitch rates Koks notes B

Fitch Ratings said it affirmed PAO Koks's long-term foreign- and local-currency issuer default ratings at B with a negative outlook.

Fitch also said it assigned an expected senior unsecured rating of B to Koks Finance DAC's up to $500 million proposed notes.

The negative outlook is driven primarily by the continuing liquidity risk, the agency said.

Fitch said it considers the group's liquidity tight as Koks depends on rolling over short-term debt and on undrawn committed facilities.

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