Standard & Poor’s Upgrades EVRAZ to ‘B+’
14 March 2011 - EVRAZ Group (EVR: LSE) (“Evraz”) welcomes the upgrade by Standard and Poor’s Rating Service of EVRAZ’s long-term corporate credit rating from ‘B’ (Stable) to ‘B+’ (Stable).
Standard & Poor’s commented: “The upgrade reflects an improvement of EVRAZ's liquidity, which we now assess as adequate, following the refinancing of short-term debt. EVRAZ used the proceeds of its RUB15 billion bond placement and $950 million pre-export finance facility to refinance this debt. EVRAZ is also benefiting from a stronger financial performance in 2010 and 2011 on the back of more favourable industry conditions.”
Please view Standard & Poor’s announcement here
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