Moody’s Changes Outlook On Azovstal

Moody’s Rating Agency announced yesterday that it had changed its outlook on Azovstal’s (AZST: BUY) five-year Eurobond from under review to developing. Moody’s also confirmed the bond’s family rating at B2. Moody’s sighted the improved corporate governance and structure of Azovstal’s parent company SCM, and strong 1H financials as reasons for the change.