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Eurasian Resources Group (“ERG” or “the Group”), a leading diversified natural resources group headquartered in Luxembourg, has received an upgrade from Standard Poor’s (“SP”) in its long-term credit rating to ‘B,’ up from ‘B-’, with a ‘stable outlook’, on the basis of the Group’s strong performance and robust markets.
The leading credit ratings agency highlighted that ERG is set to have another strong year with record-high SP Global Ratings-adjusted EBITDA and stronger funds from operations (FFO), thanks to its debt reduction measures and very robust markets. The agency expects the Group to maintain both sufficient liquidity sources to cover its needs, and a reasonably diversified treasury policy.
The ‘stable’ outlook also reflects...
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