Russia’s future spacecraft to be equipped with fully isolated toilet cabinScience & Space March 28, 17:03
Lavrov vows that Moscow won’t leave Donbass residents 'high and dry'Russian Politics & Diplomacy March 28, 16:19
Top military brass warns US missile defense ships in Black and Baltic seas can hit RussiaMilitary & Defense March 28, 15:57
Top military brass warns nearly all low-orbit satellites within reach of US missilesMilitary & Defense March 28, 15:09
New Russian spacecraft designed for lunar missions to be run by fail-safe computerScience & Space March 28, 14:56
Putin hails Iran as Russia’s reliable and stable partnerRussian Politics & Diplomacy March 28, 14:17
Military expert warns US ABMs can detect any missile shield, even Russian onesMilitary & Defense March 28, 14:02
Scientists create modified fullerene capable of fighting HIVScience & Space March 28, 13:47
Kremlin notes Russian bank's contacts with Trump's son-in-law 'usual business practice'Business & Economy March 28, 13:28
MOSCOW, October 12. /TASS/. Fitch Ratings has upgraded Russian diamond producer ALROSA's Long-Term Issuer Default Rating (IDR) to 'BB+' from 'BB', the agency said in a press release on Wednesday. The company’s Short-Term IDR has been affirmed at 'B'. The outlook on the Long-Term IDR is stable, the report said.
"This is a result of Alrosa's outperformance of our conservative expectations over the past few years, driven by a weaker rouble and higher than expected diamond pricing," Fitch said. The ratings also reflect the company’s strong operating profile as the largest diamond producer (30% global diamond production share in 2015), and its cost leadership, the report said.
Alrosa, which operates in Russia’s Republic of Sakha (Yakutia), is among the top ten of Russia’s most efficient enterprises. The company accounts for 94% of Russia’s overall diamond output, and for 25% in the global diamond production in terms of value. Alrosa’s probable reserves make up about one third of the world’s diamond resources. The company has its own advanced exploration complex enabling it to maintain and expand its proven reserves. Its diamond production equaled 38.3 mln carats and sales amounted to 30 mln carats in 2015.