S&P uplifts Ferrexpo

S&P said it raised its long-term corporate credit rating on Ferrexpo plc to B- from CCC and its short-term rating to B from C. The outlook is stable.

S&P also raised the senior unsecured long-term rating on the debt issued by Ferrexpo Finance plc to B- from CCC.

S&P said the upgrades follow the recent rally in the prices of iron ore and the tight supply of iron ore pellets, which suggests that Ferrexpo's cash flow in 2017 will be better than previously expected.

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