Fitch ups Norilsk Nickel view to stable

Fitch Ratings said it revised OJSC MMC Norilsk Nickel's outlook to stable from negative. The company's long-term issuer default rating and senior unsecured ratings are affirmed at BBB- and short-term issuer default rating at F3.

The outlook change reflects the stronger-than-anticipated base metals pricing environment so far in 2009, which has allowed the company to materially improve its liquidity profile and maintain credit metrics commensurate with the BBB- rating, Fitch said.

The outlook change also reflects confidence in the company's ability to refinance a significant portion of its debt maturities due in 2010, the agency said.

© 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.