S&P changes Norilsk Nickel view

S&P said it revised its outlook on MMC Norilsk Nickel PJSC to stable from negative.

The agency also affirmed the BBB- corporate credit rating and the BBB- issue-level rating on the senior unsecured notes issued by MMC Finance Ltd.

“The outlook revision and affirmation reflect our view that Nornickel's leverage will remain moderate with adjusted debt to EBITDA not exceeding 2.0x in the coming years, based on the combination of supportive operating performance and financial policy commitment,” S&P said in a news release.

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