EuroRating revises JSW rating

The EuroRating agency has reduced the credit rating for Poland's mining company Jastrzębska Spółka Węglowa from B+ to B- with a continuous negative perspective. According to the agency's estimates, JSW may record more than PLN 1 billion in losses in 2015 and if it does not commence mining and does not apply the necessary restructuring plan, it may be "in danger of lossing liquidity and going bankrupt." Due to JSW's miners' strike, the company has already lost its major customer, steel producer ArcelorMittel. More than a third of the company workforce is actively involved in the protest (over 9,000) which has been lasting since January 28.