TMK, one of the world’s leading producers of tubular products for the oil and gas industry, announces that Moody’s Investors Service (Moody’s) has today changed the outlook on TMK's ratings from «Negative» to «Stable» and affirmed the Company's B1 corporate rating.
According to Moody's, the change of the outlook reflects a significant improvement in the financial and operating performance of TMK's American division complemented by the resilience of its Russian operations to oil price volatility. It also factors in the expectation that TMK will be able to reduce leverage and maintain adequate liquidity.
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