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Russia: Moody’s upgrades Severstal to Baa2 with stable outlook

Severstal, one of the world’s leading vertically integrated steel and steel-related mining companies, announces that Moody’s has upgraded its rating on Severstal to Baa2 from Baa3 and changed its outlook from positive to stable. Moody’s also raised Russia’s country ceilings for foreign currency debt to Baa2/P-2 from Baa3/P-3 and the ceilings for local currency-denominated debt…

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Armenia: PM reveals bizarre story surrounding VTB Bank – Vallex Group dispute over copper mine

PM Nikol Pashinyan has presented details surrounding the existing situation at the Teghut Copper and Molybdenum Mine (Lori province) and the Alaverdi Copper Smelting Plant. Speaking in parliament, the PM presented how the situation developed in the first place. According to Pashinyan, the VTB Bank lent $380 million to the Teghut mine and Vallex Group,…

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