Moody’s changes Ferrexpo view

Moody's Investors Service said it affirmed Ferrexpo plc's corporate family rating and probability of default rating at Caa1 and Caa1-PD, respectively.

The agency also affirmed the Caa1 rating of the senior unsecured notes issued by Ferrexpo Finance plc.

The outlook was changed to positive from stable.

Moody’s said the change of outlook reflects the improved liquidity profile of Ferrexpo with no refinancing risk for its 2018 debt maturities of $298 million, out of which $173 million mature in April 2018, as the company signed a new pre-export finance facility of $195 million on Nov. 16.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.