Uzbekistan: Fitch upgrades AMMC rating
Fitch Ratings has upgraded the Long-Term Issuer Default Ratings (IDRs) of JSC Almalyk Mining and Metallurgical Complex (AMMC) to BB from BB- with a Stable Outlook. The decision followed Fitch’s upgrade of Uzbekistan’s sovereign rating. The plant was evaluated based on the agency’s criteria for government-related entities (GRE), with high marks given for its economic…