Moody’s ups Evraz view to stable

Moody's Investors Service said it changed the outlook on Evraz Group SA’s Ba3 corporate family rating, Ba3-PD probability of default rating and the B1 (LGD 5) senior unsecured ratings assigned to its notes to stable from negative.

Concurrently, the agency affirmed all these ratings.

"Our decision to stabilize the outlook on Evraz's ratings reflects our expectations that higher average prices for steel and coking coal, as well as solid positive free cash flow generation, will allow the company to continue reducing its leverage safely below the downgrade threshold," Moody’s vice president, senior credit officer Artem Frolov said in a news release.

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