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Fitch Affirms Ferrexpo PLC's Issue Default Ratings At 'B'-Reuters

Thursday, 3 Oct 2013 07:04am EDT 

Reuters reported that Fitch Ratings has affirmed UK-incorporated Ukrainian iron ore pellets producer Ferrexpo PLC's Long and Short term Issue Default Ratings (IDR) at 'B'. The Outlook on the Long-term IDR is Negative. The ratings are constrained by the Ukraine's sovereign rating (B/Negative) due to the Company's operational exposure to that country. Absent the sovereign constraint Fitch would view Ferrexpo's standalone rating as 'B+'. 

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