Moody's affirms Evraz

Moody's Investor's Service said it affirmed the corporate family rating of Evraz Group at Ba3 with a positive outlook.

The outlook reflects the continuing improvement of Evraz's operating performance and financial results of the group, Moody's said, supported by an increasingly healthy demand for steel products in Russia and internationally.

The agency noted that upward pressure to the rating remains constrained by the short-term funding structure that was put in place for the acquisition of Oregon Steel in 2006.

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