Fitch Ratings has decreased the rating of Ferrexpo.
The company long-term rating was downgraded from B- to CCC+.
Moreover, the agency excluded the company rating from the Rating Watch Negative due to the worsening of working condition in Ukraine and the growth of risks.
“The rating reflects high uncertainty as to Ferrexpo financial and operational results during the ongoing war. But the clear monetary position of Ferrexpo and the absence of a considerable financial debt make it stronger compared with other Ukrainian companies,” Fitch said. (Ukrainian metal)