(mining.com) - Alrosa (MCX:ALRS), the world's top diamond producer by output, received a shot in the arm on Wednesday after ratings agency Moody's upgraded the miner's credit rating by two notches. Moody's upgrade brings the debt rating of Alrosa which is 77%-owned by Russia and the Republic of Sakha (Yakutia), to just below investment grade. Moody's said its decision reflects the fact that Alrosa's financial metrics "have remained strong versus global peers" and will remain robust, "owing to the company's status as a major producer and exporter of diamonds and weak rouble, the company's 29% share in the global diamond output, its low-cost reserve base, technical mining expertise, solid liquidity and conservative financial policy."
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