SUEK receives initial rating from Fitch BB and is upgraded by Moody’s
Published by Nicholas Woodroof,
Editor
World Coal,
On 24 May Fitch Ratings agency initiated SUEK’s credit rating, assigning BB grade with a stable outlook.
Fitch has noted SUEK’s position as a leading thermal coal producer and exporter in Russia and globally, the company’s competitive cost position through efficient operations, own logistics and the growing share of open-pit mined coal, stable financials and comfortable leverage supported by solid coal fundamentals and CAPEX flexibility.
In addition, on 24 May Moody’s credit agency upgraded SUEK’s rating from Ba3 to Ba2 with a stable outlook. The upgraded rating reflects the company’s improved financial position. It also notes SUEK’s competitive sales and cost position and high quality coal products.
By the end of 2017, the SUEK’s sales volume reached 109.7 million t, revenue increased to US$5693 million. EBITDA grew to US$1514 million and net income to US$657 million.
Read the article online at: https://www.worldcoal.com/coal/25052018/suek-receives-initial-rating-from-fitch-bb-and-is-upgraded-by-moodys/
You might also like
FutureCoal welcomes global shift toward technology-neutral, energy-secure pathways at COP30 and G20
FutureCoal has welcomed the outcomes of the G20 Leaders’ Summit in Johannesburg and the COP30 climate negotiations in Belém, noting that both major global forums reinforced the needs of many emerging economies requiring balanced, methodical, technology-neutral energy pathways.