Fitch gives Azovstal 'B' rating, negative outlook

Fitch Ratings said in a release on Friday that it assigned Azovstal long-term foreign and local currency issuer default ratings of ‘B’ and short-term foreign and local currency IDRs of ‘B’. The outlook on the foreign currency IDRs is negative; local currency IDRs – positive. Fitch gave Azovstal a ‘A+(ukr) rating on the national scale. Fitch also rated the company’s USD 175 mln LPNs, due in 2011, a senior unsecured rating of ‘B’ and recovery rating of ‘RR4.’