S&P affirms Evraz

Standard & Poor's said it affirmed its BB- long-term corporate credit and senior unsecured debt ratings on Evraz Group SA and its core subsidiary Mastercroft Ltd.

At the same time, the agency said it affirmed the Russia national-scale ratings on Evraz and Mastercroft at ruAA.

The outlook is positive.

According to S&P, this follows the announcement of Evraz's plan to acquire the North American steel tubular operations of SSAB Svenskt Stal AB (BBB/stable/A-2) for $4.025 billion in cash on a debt-free basis.

The affirmation reflects the agency's view that leverage will stay moderate, remaining broadly in line with the group's financial policy and the levels assumed for the ratings.

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