Rusal Posts First Annual Loss Since 2014 on Strong Ruble

United Co. Rusal International PJSC recorded its first annual loss in more than a decade, hit by a strong ruble and surging borrowing costs.

The $455 million net loss reflected an exchange-rate loss of $431 million, the Russian company said Wednesday in a statement. At the same time, tight monetary policy drove up interest payments on bank and bond debt.