S&P upgrades Ferrexpo to ‘B+’

Standard & Poor’s announced in a statement on Friday that it raised Ferrexpo’s long-term foreign currency ratings from ‘B’ to ‘B+’, and removed it from CreditWatch with positive implications. S&P affirmed the company’s long-term local currency ‘B+’ rating and foreign and local short-term corporate credit ratings of ‘B’. The outlook on all ratings is stable. The move follows S&P’s sovereign rating upgrade on July 29.