S&P TO RESOLVE CREDITWATCH ENG PLACEMENT ON TMK AFTER IPO

摘要

Standard & Poor's Ratings Services is keeping its 'B+' long-term corporate credit rating on Russia-based steel pipe producer Pipe Metallurgical Company (TMK), one of the world's largest steel pipe producers, on CredifWatch with negative implications, after TMK's core shareholder, Dmitry Pumpyansky, increased his stake in the company to 100 percent from 67 percent, S&P said in an October 24 news release. The ratings were originally placed on CreditWatch on September 4, 2006, pending clarification of the company's eventual balance sheet structure.