Home / News / Ukraine / S&P Global assigned Viktor Pinchuk's Interpipe a 'B' rating with a stable outlook

S&P Global assigned Viktor Pinchuk's Interpipe a 'B' rating with a stable outlook

Ukraine / Business and Finance

Interpipe is a global manufacturer of steel pipes and railway wheels based in Ukraine.

S&P Global assigned Viktor Pinchuk's Interpipe a 'B' rating with a stable outlook

On November 12, 2020, the international rating agency S&P Global assigned the metallurgical company of the Ukrainian billionaire Viktor Pinchuk Interpipe Holdings Plc (Interpipe) - rating "B" with a stable outlook.

This credit rating from S&P Global is fully consistent with the rating previously provided by Fitch Ratings and the current sovereign rating of Ukraine

S&P Global reported that Interpipe took a number of important steps in 2020, despite difficult market conditions, after exiting debt restructuring in October 2019.

Interpipe's creditworthiness is based on its unique position as a small steelmaker with a leading position in the niche railroad wheel market, limited balance sheet debt and positive free operating cash flow expectations.

The Stable Outlook reflects Interpipe's ability to cope with a challenging operating environment with limited pressure on its balance sheet. At the same time, both Fitch Ratings and S&P Global note the possibility of raising the rating provided:

  • continued stable production performance in the next 6-9 months,
  • introduction of a new capital structure and instruments for repayment of inherited debts,
  • having reliable credit ratios and sound financial policies, and adequate liquidity.
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