S&P lowers Interpipe

Standard & Poor's said it lowered its long-term corporate credit rating to B from B+ on Interpipe Ltd.

At the same time, the long-term rating on the company's senior unsecured debt was lowered to B- from B, and the Ukrainian national-scale rating to uaBBB from uaA, the agency said, noting that all ratings were removed from Creditwatch, where they had been placed on Oct. 17, with negative implications.

The recovery ratings remain unchanged, the agency said.

The outlook is negative.

S&P added that its rating action follows the recent downgrade of Ukraine (foreign currency B/negative/B; local currency B+/negative/B).

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