HomeMaterials for 12.05.2009
12 May 200908:13

Fitch Ratings claims Evraz Group’s profits in jeopardy

Fitch Ratings, the international rating agency, put Evraz Group SA’s long-term Issuer Default Rating (BB) and its priority unsecured rating (BB) on the Negative Rating Watch recently. At the same time, Mastercroft Limited's long-term Issuer Default Rating (BB) has also been placed on this list. As it happens, Mastercroft is Evraz’s daughter enterprise. Both companies’ short-term Issuer Default Ratings have been affirmed at B. The Negative Rating Watch indicates that Fitch is rather worried about the company’s overall debt/EBITDA and net debt/EBITDA ratios not keeping up with the level
12 May 200908:11

Neva’s license canceled

The Federal Financial Marker Service decided to annul the license of Neva Financial & Industrial Group. The license used to entitle the company to performing brokerage and dealing operations as well as security transactions. The decision had to be taken because of Neva’s numerous violations of the Russian securities legislation throughout one year. These offenses involved violations of the Federal Financial Marker Service’s regulations. What is more, the Service has also canceled the qualification certificates issued to the company’s General Director Vitaliy Davidovitch and General
12 May 200907:53

Governor asks for increased security

Governor of Chelyabinsk Region Petr Sumin discussed the ways of increasing security of the future underground with the local anti-terrorist committee. The General Director of ChelyabMetroStroy Konstantin Abramchuk said as soon as the construction of the subway began in 2000, they made every effort to ensure its anti-terrorist safety. At the moment, there are two ways of protecting the subway and its future users: keeping an eye on the construction site by ChelyabMetroStroy’s security service (with four CCTV cameras, weekly raids and checks, and entry passes) and making sure the