S & P Global Rating believes that the Eurasian Resources Group will see a higher financial stability, and has increased its long-term rating to B from B-.
Last year the group EBITDA reached $2 billion, and its free fund flow was positive ($476 million).
The group was able to strengthen its positions due to FeCr sales growth.
Last year the average FeCr price was $1.24 per Cr pound in Europe.
“We believe the company will be able to increase FeCr output by 5-19% a year in the following couple of years”, S&P said.
In 2017 ERG produced a record of 1.6 million tons of ferroalloys and mined 5.6 million tons of chromium ore, up by 8% and by 15% YoY respectively. (Ukrainian metal)