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S&P Downgrades Novolipetskiy metallurgicheskiy kombinat OAO's Rating-SKRIN Newswire


Wednesday, 26 Jun 2013 04:24am EDT 

SKRIN Newswire reported that Novolipetskiy metallurgicheskiy kombinat OAO (NLMK) announced that Standard & Poor’s (S&P) has downgraded NLMK’s long-term credit rating from BBB- (negative outlook) to BB+ (stable outlook). The agency based its decision, among other factors, on the weakening prospects for global steelmaking and a conservative assessment of the country risk for Russia. At the same time, S&P also acknowledged NLMK’s sustainable business model and financial stability on a stand-alone basis, stating that the underlying business profile is in line with its criteria for an investment rating. S&P is also complimentary of NLMK’s conservative financial policy. 

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