Fitch could up Raspadskaya

Fitch Ratings said it placed OJSC Raspadskaya's B+ long-term issuer default and senior unsecured ratings, B short-term issuer default rating and A(rus) national long-term rating on Rating Watch positive.

The Rating Watch follows the announcement of a possible merger with Yuzhkuzbassugol, which is owned by Evraz Group SA. No rating impact is expected on Evraz's BB long-term issuer default and senior unsecured ratings and B short-term issuer default rating from the group's planned investment in the combined entity.

The outlook is stable.

The issuer's ratings could be upgraded or affirmed at the current levels.

Fitch said that it believes the combined company would benefit from improved scale and a complementary product range. The merger would create the largest coking coal company in Russia.

© 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.