The largest shareholder of Petropavlovsk, Kenes Rakishev (22%) commented on the lowering of the company credit rating.
“The decrease of the gold-extracting company Petropavlovsk credit rating by Fitch from B- to CCC should not be dramatized. The results of the first half of the year led to this. We had a corporate conflict at the time, which affected the output and sales decrease”, he said.Petropavlovsk
According to Rakishev, the new board of directors and the company management have a vast experience in gold-extracting sphere and are concentrated on solving manufacturing tasks.
He is sure that as of the end of 2018 the forecast will be revised upwards. (Ukrainian metal)