FITCH has raised IMH’S credit rating
IMH announces that Fitch Ratings has affirmed its Long- and Short-term Issuer Default Ratings (IDRs) at 'B' respectively. Fitch has also upgraded the senior unsecured rating of KOKS Finance Limited’s loan participation notes to 'B'/'RR4' from 'B-'/'RR5'.
On Friday 24 April 2015, Fitch Ratings has affirmed OAO Koks’ Long- and
Fitch notes that the rating upgrade reflects the increased EBITDA generation due to efficiency measures taken by the company and the recent rouble devaluation. Positive factor, which has an effect on the rating, is its geographical diversification in its pig iron and coke sales and a strong presence in market such as America, Europe, Turkey and The Middle East.
Fitch Ratings has positively marked the plans of the Group to reach 100%
Fitch assumes, the company’s EBITDA may increase from RUB12.1 bn in 2014 to RUB15 bn in 2015.
Earlier, in December 2014, international rating agency Standard & Poor’s announced that it raised
About the Company:
KOKS Group is a vertically integrated business focusing on the extraction and processing of coking coal and iron ore to feed its pig iron and coke production. KOKS Group is the world’s largest exporter of merchant pig iron, and a leading producer of merchant coke in Russia. KOKS Group’s four operational divisions are coal, coke, iron ore & pig iron and powder metallurgy. KOKS Group’s key production facilities are located in the Kemerovo, Tula and Belgorod Regions of the Russian Federation.
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