LONDON: Petropavlovsk PLC announce that following the recent ratings upgrade made by Fitch Ratings on 22 August 2019, S&P Global Ratings has upgraded the Company’s Outlook to Positive whilst affirming its B- rating.
In its announcement, S&P highlighted the progress the Company has made over the past 12 months towards demonstrating a “stronger operating performance, improved liquidity, stronger governance, and a potential to reduce leverage meaningfully from 2020.”
S&P stated that the upgrade to a “positive outlook reflects the potential for an upgrade in the next six to 12 months if the Company establishes a longer track record of efficient operations, deleveraging in line with our base case and maintaining adequate liquidity.”