Fitch affirms Evraz

Fitch Ratings said it affirmed Evraz Group SA's long-term issuer default and senior unsecured ratings at BB and short-term rating at B. Fitch also said it affirmed subsidiary Mastercroft Ltd.'s long-term issuer default rating at BB and short-term issuer default rating at B, along with Evraz Securities SA's senior unsecured rating at BB.

The outlook is stable.

The affirmation follows news that the company plans to acquire Claymont Steel Holdings for $565 million and several Ukrainian assets.

The acquisitions are in line with an acquisitive growth strategy outlined by the company, the agency said.

Fitch said Evraz will continue expanding its presence in North America and will diversify its product portfolio into more value-added products and could gain synergy effects through supplies of slabs produced at the Russian facilities to Claymont.

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