S&P boosts Evraz Group

Standard & Poor's said it raised its credit ratings on Evraz Group SA and its core subsidiary Mastercroft Ltd. to BB- from B+, following the strong profitability and cash flow generation posted by the group in 2005, its demonstrated progress in group consolidation and successful integration of recently acquired assets.

At the same time, the AA-(ru) Russia national-scale ratings on Evraz and Mastercroft were affirmed.

The outlook is stable.

S&P noted that the rating action reflects another year of profitable and cash-generative consolidated operations, following the group's consolidation of its trading operations in 2004 and mining assets in 2004-2005.

The ratings on Evraz and Mastercroft are currently equalized because Evraz owns most of its operating subsidiaries through Mastercroft, the agency added.

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