S&P rates Evraz notes B+

Standard & Poor's said it assigned a B+ rating to the proposed note issue by Russia-based Evraz Group SA. The amount and terms of the issue will be determined at placement.

The outlook is positive.

The rating reflects the corporate credit rating on Evraz and on its core subsidiary, Mastercroft Ltd., which owns controlling stakes in operating subsidiaries of the group and has issued a guarantee on the proposed bond, the agency said.

The issue proceeds will be used for general corporate purposes, partial refinancing of existing short-term debt and investments in expanding operations, including the potential acquisition of a 50% stake in the coal mining company Yuzhkuzbassugol.

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