Ratings Agency S&P Upgrades ALROSA to BB+

Moscow: Russian diamond mining giant ALROSA, said that Standard & Poors has upgraded its long-term corporate credit rating to BB+, outlook stable.

"The rating action reflects the fact that ALROSA demonstrated strong operational and financial performance over 2016 and the first half of 2017," ALROSA said.

"The stable outlook reflects S&P's view that ALROSA's very low leverage, strongly positive free operating cash flow generation, high profitability, and solid 30 percent global market share help the company mitigate the inherent volatility in the industry and potential risk of higher dividends," it added.

  • Ratings Agency S&P Upgrades ALROSA to BB+