S&P ups Petropavlovsk

S&P said it upgraded the ratings for Petropavlovsk plc and its senior unsecured notes to B from B-.

“The upgrade recognizes the company's continued progress in several key areas: delivering a strong operating performance, keeping to its strategy, and deleveraging in line with our base case and its public leverage target of net debt to EBITDA below 2x,” S&P said in a press release.

The outlook is stable.

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