CEO: Norilsk may keep investment rating despite Russia downgrade

NORILSK, Jan 23 (PRIME) -- Metals giant Norilsk Nickel is in an intense dialogue with international rating agencies and the company may retain its investment grade rating even if Russia is downgraded to a junk level, CEO Vladimir Potanin told reporters Friday.

“The ruble devaluation is a tail wind for us as for an exporter… We have gained, not lost,” he said.

But he admitted that this logic is unsuitable if a rating agency bears in mind political aspects and not financial and economic ones, Potanin said.

Usually, a sovereign credit rating sets a rating ceiling for companies but according to Potanin, Standard & Poor’s sometimes ignores this principle.

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