KIEV, Sept. 4 -- Moody's Investors Service has upgraded Azovstal's corporate family rating and the rating of the loan participation notes issued by Azovstal Capital to B1 from B2 and B3 respectively.

The outlook for the ratings is positive.

Since the creation of Metinvest, the amount of secured debt at Azovstal level has been reduced significantly, this in turn removes the notching for the bond which had been in place previously.