Petropavlovsk PLC S&P Ratings Upgrade (6180X)
November 27 2017 - 7:56AM
UK Regulatory
TIDMPOG
RNS Number : 6180X
Petropavlovsk PLC
27 November 2017
27 November 2017
Petropavlovsk PLC
S&P Ratings Upgrade
Petropavlovsk PLC ("Petropavlovsk" or the "Company" or, together
with its subsidiaries, the "Group") is pleased to highlight that on
23(rd) November 2017, S&P Global Ratings raised its long-term
corporate credit rating on Petropavlovsk to 'B' from 'B-'. S&P
Global Ratings also raised its issue rating on Petropavlovsk's
recently issued US$500 million senior unsecured eurobond to 'B'
from 'B-'. Both ratings have been removed from CreditWatch, where
they were placed with positive implications on 24(th) October 2017.
The outlook is stable.
About Petropavlovsk
Petropavlovsk is one of Russia's leading gold mining companies.
As at 30 September 2017, the Company had produced approximately
6.6Moz of gold.
At this time, Petropavlovsk is in the construction phase of a
state of the art pressure oxidation facility to process the
Company's substantial refractory resource base. The Company's
combined 3,600km(2) license holding has untapped resource
potential. The Company is a leading employer and contributor to the
development of the local economy in the Amur region, Russian Far
East, where it has operated since 1994.
Petropavlovsk is a shareholder (31.1%) of IRC Limited and is the
guarantor of the US$340 million project finance facility (US$234
million principal outstanding as at 31 December 2016). IRC is a
vertically integrated iron ore producer and developer in the
Russian Far East and Northeastern China. IRC is listed on the Hong
Kong Stock Exchange (ticker: 1029.HK).
Petropavlovsk is listed on the Main Market of the London Stock
Exchange (ticker POG:LN).
Enquiries
For more information, please visit www.petropavlovsk.net and
www.ircgroup.com.hk or contact:
Petropavlovsk Maitland
PLC
Alya Samokhvalova Neil Bennett
Grace Hanratty James Isola
+44 (0) 20 7201
8900 +44 (0) 20 7379 5151
TeamIR@petropavlovsk.net Petropavlovsk-Maitland@maitland.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCBDBDBSUDBGRR
(END) Dow Jones Newswires
November 27, 2017 07:56 ET (12:56 GMT)
Petropavlovsk (LSE:POG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Petropavlovsk (LSE:POG)
Historical Stock Chart
From Jul 2023 to Jul 2024