Fitch may downgrade Evraz

Fitch Ratings said it maintained the Rating Watch negative on Evraz Group SA's long-term issuer default rating and senior unsecured ratings of B+. Its short-term issuer default rating is affirmed at B, and the recovery rating for the senior unsecured debt is RR4.

The negative watch reflects continuing uncertainty regarding the company's ability to secure the necessary funding to refinance debt maturing in 2010 and 2011, Fitch said.

Completion of a refinancing program would largely address the agency's concerns regarding Evraz's liquidity in 2010/11, Fitch said.

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