Fitch confirms Metinvest's 'B' rating, negative outlook

Fitch Ratings wrote in a release yesterday that it affirmed Metinvest’s long-term foreign currency issuer default rating at ‘B’ with a negative outlook. The company’s long-term local currency IDR was confirmed at ‘B+’ and its short-term foreign and local currency IDRs were maintained at ‘B.’ Fitch said the actions reflect its view that the company’s credit profile will remain at the corresponding rating level despite the currency economic crisis, and the downturn in steel demand and prices.