Russia: S&P revises Metalloinvest outlook

Standard & Poor’s Ratings Services (S&P) has revised its outlook on Metalloinvest from Negative to Stable. S&P also affirmed the company’s ‘BB’ long-term corporate credit rating. According to S&P’s latest report, the upgrade to a Stable outlook reflects positive iron ore price trends, as well as actions taken by Metalloinvest’s management team to deleverage and…

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Ukraine: Yenakievo Steel and Krasnodonugol halt operations

Yenakievo Iron and Steel Works and Krasnodonugol, both subsidiaries of Metinvest Group, have halted operations. Production has been disrupted by the ongoing armed hostilities and a blockade of railway transportation between the controlled and the uncontrolled territory of Ukraine. Since the beginning of the conflict in the region, Yenakievo Steel has experienced erratic supplies of…

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Ukraine: AMKR to invest $400 million in modernization of the plant in 2017

PJSC “ArcelorMittal Kriviy Rih”, the largest mining and metallurgical plant of Ukraine, will invest $400 million (CAPEX and OPEX) in the development of the plant in 2017. The company will invest funds in modernization of production, improvement of the environment, capital repairs of equipment and construction of new units, including the second LF-CC and coke…

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