S&P lifts Borets rating

Standard & Poor's said it raised its long-term corporate credit rating on Borets International Ltd. to BB from BB-. At the same time, S&P raised its Russia national scale rating on the group to ruAA from ruAA-.

The outlook is stable.

The upgrade primarily reflects Borets' improved profit margins and credit ratios over the past two years, including its ratio of S&P's-adjusted debt to EBITDA of 0.5x at year-end 2012.

The upgrade also incorporates S&P's anticipation that Borets will post a solid operating performance in 2013, continuing the trend in recent years.

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