Fitch revises Rusal’s view to negative

Fitch Ratings said it revised United Co. Rusal plc’s outlook to negative from stable and affirmed the long-term issuer default rating at BB-. Fitch also affirmed Rusal Capital DAC’s senior unsecured rating at BB-/RR4.

“The outlook revision reflects the company’s weakened operating and financial profile due to prolonged low commodity prices, cost inflation and slower-than-targeted debt reduction. This results in an increase of funds from operations (FFO) adjusted gross leverage above the range that we consider as commensurate with the rating until 2021,” said Fitch in a press release.

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