Ukraine: Fitch affirms Interpipe at ‘RD’
Fitch Ratings has affirmed Interpipe’s long-term issuer default rating (IDR) at ‘RD’ (Restricted Default), Fitch said in a press release.
Fitch Ratings has affirmed Interpipe’s long-term issuer default rating (IDR) at ‘RD’ (Restricted Default), Fitch said in a press release.
The Interpipe works have completely paid off Naftogaz and have no debt for industrial gas, said the company in its statement.
The Eurasian Economic Commission decided to impose a 5-year 4.75% antidumping duty on steel wheels (for manufacture of railroad cars and trams) imports from Ukraine. The duty could be imposed in the early 2016.
In January-September Interpipe Steel produced 443 thousand tons of steel, down by 35.1% YoY.
The state administration of the railroad transport Ukrzaliznytsia has renewed purchases of rails from Azovstal Iron and Steel Works and wheel pairs from Interpipe.
In January-June Interpipe supplied around 18 thousand tons of pipes to Russia, down from 120 thousand tons in the first half of 2014.
In January-June Interpipe Steel produced 290 thousand tons of steel, down by 38.4% YoY.
Ukrainian metal companies have been suffering from scrap shortages for five months in a row.