S&P lifts Evraz view to stable

S&P said it revised the outlook on Evraz Group SA to stable from negative.

The agency also said it affirmed the company’s BB- long-term corporate credit and ruAA- Russia national scale ratings, as well as the BB- long-term corporate credit rating on Evraz’s financial subsidiary, EvrazHolding Finance LLC.

S&P also said it affirmed the B+ ratings on the senior unsecured notes issued by Evraz and EvrazHolding Finance.

The outlook revision reflects the company’s resilient operating performance and cash flow generation in 2016, the agency said, despite the challenging market conditions in Russia.

The stable outlook also considers expectations of further improvement in Evraz’s credit metrics in 2017 on the back of continued de-leveraging efforts and an overall stronger pricing environment this year compared with 2016, Fitch said.

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