Moody's: Evraz view to positive

Moody's Investors Service said it changed Evraz Group SA's outlook to positive from stable, and affirmed its B1 corporate family rating and the B2 ratings on the company's senior unsecured notes totaling $2.24 billion.

The change to a positive outlook was prompted by improvements in operating performance and credit metrics that Evraz achieved since the trough of the steel markets, Moody's said, and in particular during 2010.

The outlook also is supported by improving market fundamentals at key markets for Evraz, including Russia and North America, the agency said.

In spite of significant increases in raw material prices for iron ore and coking coal, a high level of vertical integration allowed the company to sustain margins pressure and capitalize on the market recovery, Moody's said.

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