Fitch rates Evraz notes BB

Fitch Ratings said it assigned Evraz Group SA's prospective dollar-denominated notes issue an expected senior unsecured BB rating. The rating is in line with Evraz's BB long-term issuer default rating. Fitch also affirmed Evraz's long-term issuer default rating and senior unsecured ratings of BB and short-term issuer default rating of B. Evraz's core subsidiary Mastercroft Ltd.'s long-term issuer default rating also is affirmed at BB and short-term issuer default rating at B, as is the senior unsecured rating of Evraz Securities SA at BB.

The outlook is stable.

Proceeds from the notes will be used for general corporate purposes and refinancing debt from a recent acquisition. The issue will be a direct, unconditional and unsecured obligation of Evraz, which directly owns several international steel operations, the agency said.

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