KIEV, June 22 -- Standard & Poor's Ratings Services has assigned its 'B+' long-term corporate credit rating, and 'uaA' Ukraine national scale rating, to Ukraine-based steel pipes and rail wheels producer Interpipe Ltd., reads a press release distributed by S&P.

The outlook is negative.

"The ratings reflect the risks associated with operating in Ukraine (where all the plants are located); relatively volatile steel-related costs and pipe demand and prices; expected material and partially debt-funded dividends and capital expenditure plans; a limited track record in reporting as a combined group, and ownership by one individual (and his family)," reads the press release.