Moody’s Affirms EVRAZ Holding’s Rating at Ba1
26 November 2018 (09:27)
UrBC, Yekaterinburg, November 26, 2018. The international rating agency Moody’s upped EVRAZ Group’s corporate rating from Ba1 to Ba2. with Stable rating outlook, Prime refers to the agency as stating.
‘The Group’s rating was improved based on the ongoing decline in both the leverage and debt burden figures and on our expectations that the company will be able to keep its leverage within the required Ba1 limits,’ Moody’s Vice President and Senior Credit Director Artem Frolov is quoted as saying.
The agency also commented on the Group’s low-cost production, its own iron ore and coke coal supplies, and product, operational, and geographic diversification.
The company’s current rating also reflects the stable demand for steel produce and for OCTG and rails in Russia and in North America, respectively.
‘The Group’s rating was improved based on the ongoing decline in both the leverage and debt burden figures and on our expectations that the company will be able to keep its leverage within the required Ba1 limits,’ Moody’s Vice President and Senior Credit Director Artem Frolov is quoted as saying.
The agency also commented on the Group’s low-cost production, its own iron ore and coke coal supplies, and product, operational, and geographic diversification.
The company’s current rating also reflects the stable demand for steel produce and for OCTG and rails in Russia and in North America, respectively.
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