S&P LOWERS RUSSIA'S MARETEX LTD. TO 'CCC+'ON EXPECTED Q4 LOSSES

摘要

Standard & Poor's Ratings Services has lowered its long-term corporate credit rating on Russian metal distributor Maretex Ltd., which operates under the OJSC Comtech brand, to 'CCC+' from 'B-', based on the expectation of significant losses in the fourth quarter of 2008 and the deterioration of conditions in the steel distribution industry, the ratings agency said in a statement. The Russia national scale rating was lowered to 'ruBB+' from 'ruBBB'. The outlook is negative.