Fitch Ratings has upgraded Ukraine-based Ferrexpo Plc’s Long-Term Issuer Default Rating (IDR) to “B” from “B-”, reads a report on the rating agency’s website. “The outlook on the IDR is positive. In addition, Ferrexpo’s senior unsecured ratings have been upgraded to “B” from “B-”. The Recovery Rating is unchanged at “RR4”,” the report says. “The…
In 2017 Ferrexpo, owner of Poltava and Yeristovo Mining and Processing Works, sold 10.4 million tons of iron ore pellets, down by 11.1% YoY, while output decreased by 6.8%, to 10.444 million tons, mostly because of the crusher’s repair. 65% Fe content pellets manufacture dropped by 6.2%, to 9.885 million tons, while that of 62%…
Standard&Poor’s has changed the rating forecast for Ferrexpo plc, owner of Poltava and Yeristovo GOKs, from Stable to Positive. On December 29, 2017 S&P improved the group rating following the “high productivity” shown lately. The agency has also confirmed Ferrexpo’s long-term rating at B-. The rating improvement is the result of the stable iron ore…
In January-September Ferrexpo paid 913.6 million UAH of taxes, up by 43.4% YoY. In particular, Poltava Mining And Processing Works paid 693 million UAH of taxes, Yeristovo GOK – 216.3 million UAH and Belanovsky GOK – over 4.3 million UAH. PGOK paid 122 million UAH to the local budget, 101 million UAH to the regional…
In January-September Ferrexpo invested over 1.47 billion UAH ($55.3 million) in its Ukrainian assets. In particular, Poltava Mining and Processing Works received over 1075.2 million UAH ($40.4 million), and Yeristovo Mining and Processing Works – 390 million UAH ($14.9 million). PGOK spent this money on deposits development, strategic projects, spare parts, etc. EGOK used the…
Ferrexpo, controlling Poltava and Yeristovo Mining and Processing Works, has attracted a 3-year $195-million loan. The loan has been organized by BNP Paribas and issued by 6 international entities. The loan has to be repaid by December 31, 2020. In January-September Ferrexpo exported 7.526 million tons of pellets. In 2016 the group received $189.2 million…
In January-September Ferrexpo, controlling Poltava and Yeristovo Mining and Processing Works, produced 7.652 million tons of pellets, down by 8.1% YoY. In particular, the group produced 414.5 thousand tons of 62% Fe content pellets of its own ore and 7.216 million tons of pellets with 65% Fe content. (Ukrainian metal)
In H1 2017 Ferrexpo increased investments into Poltava, Yeristovo and Belanovsky Mining and Processing Works by 58.4% YoY, to 1.15 billion UAH. In particular, PGOK received 762.3 million UAH, Yeristovo GOK – 356.7 million UAH, and Belanovsky GOK – 26.4 million UAH. This year Ferrexpo intends to invest some $100 million more into its GOKs.…