Fitch Lowers Stirol’s Credit Rating to CCC

Fitch Ratings announced yesterday that it downgraded Stirol’s issuer default rating to CCC from B-, with a stable outlook. Fitch also lowered the credit rating assigned to its USD 125 mln Eurobond to CCC from B-. Stirol was simultaneously also removed from Rating Watch Negative (RWN). According to a release from Fitch, the downgrade reflects “in particular, the rise in gas prices and the significant impact this has had on the company’s profitability to date.”