Fitch: Norilsk Nickel notes BB+, view to positive

Fitch Ratings said it affirmed OJSC MMC Norilsk Nickel's long-term issuer default rating and senior unsecured ratings at BB+ and short-term issuer default rating at B.

The outlook was revised to positive from stable.

The agency also said it assigned an expected foreign-currency senior unsecured rating of BB+ to MMC Finance Ltd.'s proposed issue of loan participation notes.

The proceeds will be used for refinancing and for general corporate purposes, Fitch said.

The transaction is structured in the form of a loan from the issuer, MMC Finance Ltd.

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