KIEV, Nov. 14 -- Standard & Poor's Ratings Services has lowered its long-term corporate credit rating to 'B' from 'B+' on Ukrainian steel pipe producer Interpipe Ltd. At the same time, the long-term rating on the company's senior unsecured debt was lowered to 'B-' from 'B', and the Ukrainian national scale rating to 'uaBBB' from 'uaA', S&P said in a statement.

According to the statement, the recovery ratings remain unchanged. All ratings were removed from CreditWatch, where they had been placed on October 17, 2008, with negative implications. The outlook is negative.