Fitch: Impala Platinum view to stable

Fitch Ratings said it revised the outlook on Impala Platinum Holdings Ltd.'s long-term foreign-currency issuer default rating and its national long-term rating to stable from negative.

Fitch also said it affirmed the long-term foreign-currency issuer default rating at BBB, short-term foreign-currency issuer default rating at F3, national long-term rating at A+(zaf) and national short-term rating at F1(zaf).

The outlook change reflects the faster-than-anticipated improvement in end-market conditions demonstrated by the platinum group metals pricing environment so far in 2010, Fitch said.

The agency had previously said that a stagnant market recovery was a concern for the company's operating performance given the group's market exposure to the global auto manufacturing industry.

Over the next 18 to 24 months, Fitch said it anticipates better global auto catalytic demand conditions underpinned by emerging market prospects.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.