Moody’s international ratings agency has improved Ferrexpo plc corporate rating from Caa3 to Caa2.
Default risk rating has been increased from Caa3-PD to Caa2-PD, while its bonds from Caa3 to Caa2. The outlook on all ratings is stable.
In 2016 Ferrexpo, which controls Poltava and Yeristovo Mining and Processing Works, received $189.2 million of net profits, up 6-fold, or by $157.7 million. Its net income increased by 2.6% YoY, or by $25.322 million, to $986.3 million. (Ukrainian metal)