Russia: ChTPZ pipes sales down in 2018

In 2018 the ChTPZ pipes enterprises – Chelyabinsk Pipe-Rolling Works and Pervouralsky Novotrubniy Works – sold 1.92 million tons of pipes, down by 3.7% YoY. The decrease is due to the completion of large diameter pipes deliveries for the Nord Stream-2 construction. Deliveries to the Russian market grew by 1.2%, to 1.42 million tons, including…

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Russia: Moody’s Upgrades MMK to Baa2

On February 12, Moody’s rating agency upgraded MMK’s Issuer Rating to Baa2 from Baa3 with Stable Outlook. This action followed a sovereign rating action on the government of Russia, which took place on February 8, when Moody’s upgraded Russia’s long-term issuer and senior unsecured debt ratings to Baa3 from Ba1 and changed the outlook on…

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