Fitch improves outlook of Norilsk Nickel’s rating from “negative” to “stable”

Nadezhda Ivanova's picture

The international rating agency Fitch Ratings has changed the outlook on the long-term rating of Norilsk Nickel from "negative" to "stable".

The long-term ratings of the company in foreign and local currency ratings were affirmed at the level of «BBB-», the agency reported.

The outlook revision reflects the Fitch's opinion on the Russia's sovereign rating, the agency explained. On October 14th, 2016, Fitch changed the outlook on the Russia’s rating from "negative" to "stable" and affirmed the country's rating at the level of "BBB-".

The ratings affirmation reflects the opinion of the agency's of analysts that the operating and financial performances of Norilsk Nickel remain strong, despite the relatively low commodity prices, due to the low cost of the production, as well as the positive impact of the ruble devaluation on the company's financial performances.

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