Moody’s lifts Rain CII Carbon to positive

Moody's Investors Service said it changed the outlook on Rain CII Carbon LLC to positive from negative and affirmed all ratings, including the B3 corporate family rating, and the B3 rating on the second-lien senior secured notes.

Moody’s said the change in outlook reflects the company's improved performance in the past two quarters on the back of the ramp-up of Severtar coal tar distillation plant developed by a joint venture with Russian steel company Severstal OAO, improving cost savings trend, and the development of the company's blending and marketing strategy catering to growing demand from smelters in India.

As the improved trend in performance continues, the agency expects the company's leverage to decline.

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