S&P rates Metinvest notes B, ups rating

S&P said it assigned a preliminary B rating to Metinvest’s proposed senior notes and upgraded the company’s rating to B from B-.

The agency expects the offering to be at least $500 million.

“The positive rating action is supported by the company’s financial policy of maintaining relatively low gearing over the past three years, with adequate free cash flow allocation between growth capital expenditure (capex) and returns to its shareholders,” said S&P in a press release.

The outlook is stable.

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