S&P revises Petropavlovsk view to positive

S&P said it revised the outlook on Petropavlovsk to positive from negative and affirmed the rating at B-.

Over first-half 2019, Russian gold producer Petropavlovsk has ramped up its flagship asset, the pressure oxidation (POX) facility, and improved its total cash costs, as reflected in its improved first-half results, S&P said.

The refinancing of its convertible bonds has extended Petropavlovsk's debt maturity profile and improved its liquidity to adequate, the agency added.

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