S&P reinstates Ferrexpo ratings

S&P said it reinstated Ferrexpo plc’s long-term ratings at CCC in line with those of Ukraine. The outlook is negative.

“Despite the challenges imposed by the Russia-Ukraine conflict, Ferrexpo continues to export and operate, demonstrating agility managing elevated country and operational risks. This track record allowed us to reinstate the ratings. In March 2022, we suspended our ratings on Ferrexpo, and on other Ukraine-exposed metals and mining companies, because of reduced operational visibility. Although the conflict continues, we have reinstated our ratings on Ferrexpo based on the company's resilient performance since the suspension, low liquidity risks and low leverage,” S&P said in a press release.

The negative outlook reflects the ongoing situation in Ukraine, the agency said.

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