NLMK Rating Outlook Changed to Negative

12 July 2012 (14:29)

The rating outlook of the Russian metallurgical group Novolipetsk Iron & Steel Works (NLMK) has been changed to Negative because of a drop in profitability and borrowing characteristics. Its BBB- rating has been confirmed, S&P reports.

Standard & Poor's affirmed NLMK's long-term company credit rating at BBB- and a demotion of rating outlook from Stable to Negative on July 10. The company's national scale rating was affirmed at ruAAA.

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