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SUEK receives initial rating from Fitch BB and is upgraded by Moody’s

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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/

 

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Russia coal news