S&P: TMK view now stable

S&P said it revised its outlook on PAO TMK to stable from negative and affirmed its B+ long-term corporate credit rating on the company and its B+ issue rating on the senior unsecured notes issued by PAO TMK and its subsidiary TMK Capital SA.

“The outlook revision reflects our expectation that TMK will maintain adequate credit metrics for the rating in the next two years, with funds from operations (FFO) to debt exceeding 12% and adjusted debt to EBITDA at less than 4.5x,” S&P said in a news release.

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