S&P affirms Evraz, Mastercroft

Standard & Poor's said it affirmed its BB- long-term corporate and senior unsecured debt ratings on Evraz Group SA and its core subsidiary Mastercroft Ltd., following Evraz's announcement of the planned acquisition of Claymont Steel Inc. (B/Watch positive) and certain steel, iron ore and coking plants in the Ukraine.

At the same time, the Russia national-scale rating on Evraz and Mastercroft was affirmed at ruAA, the agency said.

The outlook is positive.

The agency said that the affirmation reflects its view that the planned acquisitions are supportive to Evraz's business risk profile, notably the Ukrainian assets, which will increase steel-making raw materials supply and backward integration into iron ore, improving self-sufficiency and will serve as an outlet for the group's metallurgical coal.

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