UrBC, Chelyabinsk, December 4, 2018. The international rating agency Fitch Ratings reconsidered its rating outlook on Chelyabinsk Pipe Rolling Plant (ChelPipe), promoting it from Negative to Stable; the plant’s long-term Issuer Default Rating remains at BB-, ChelPipe’s press service reports.

According to Fitch’s report, the rating outlook changed for the better since the company managed to reduce its debt burden and also because the medium-term demand for piping produce is expected to remain stable. The agency also takes into account the plant’s leadership on the pipe produce market, a large share of high value-added produce, and well-established, long-term business relationships with the company’s key customers.

‘The company’s IDR has Stable rating outlook once again, which means ChelPipe has chosen a successful development strategy.The plant’s well-balanced investment policy, ongoing operational improvements, and proactive approach to loan book management all result in stable financial and operational performance,’ says ChelPipe’s Finance & Economic Issues Director Valeriy Borissov.