KIEV, Oct. 20 -- Moody's Investors Service has changed the outlook for Metinvest B.V.'s Ba3 corporate family rating, as well as the outlook on Azovstal Capital B.V.'s B1 senior unsecured rating of the loan participation notes, to negative from positive and the outlook on Metinvest's Aa1.ru national scale rating to negative from stable, Moody's said in a statement.

According to Moody's, the ratings were revised because of a "fall in demand for semi finished steel products and steel prices especially from the CIS."