27
Jul
09:13
Fitch upgrades MMK rating on strong deleverage
Fitch has raised the credit rating of Russian steel major MMK to BBB- from BB+ thanks to "... substantial" deleverage and expectations that the company's financial profile will remain conservative.
The outlook on the rating is positive, the ratings agency says in a notice seen by Kallanish.
The deleveraging was supported by MMK's strong performance and by the proceeds from the sale of its stake in the Fortescue Metals Group (FMG) in 2016, ex…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.
on trial. To continue reading, see the options below.
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous