Evraz raised to 'Ba2' on better opg performance, liquidity profile - Moody's |
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Published
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Wed, 28 Nov 2007 11:26
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MUMBAI (Thomson Financial) - Moody's Investor's Service upgraded the corporate family rating for Evraz Group to 'Ba2' from 'Ba3', citing the continuing improvement of Evraz's operating performance and financial results in 2006 and the first half of 2007.The upgrade is also supported by growing demand for steel products in Russia and international markets, and the strengthened liquidity profile as a result of successful re-financing of short term indebtedness, the agency said.Moody's also upgraded the ratings for the senior unsecured global bonds at Evraz Group totaling 750 mln usd due in 2015 to 'Ba3' from 'B2' and the senior guaranteed Eurobonds totaling 300 mln usd due in 2009 to 'Ba2' from 'Ba3'.The outlook on all ratings is stable.TFN.newsdesk@thomson.comjroCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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