Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Evraz Group SA > News item |
S&P boosts Evraz Group
Standard & Poor's said it raised its credit ratings on Evraz Group SA and its core subsidiary Mastercroft Ltd. to BB- from B+, following the strong profitability and cash flow generation posted by the group in 2005, its demonstrated progress in group consolidation and successful integration of recently acquired assets.
At the same time, the AA-(ru) Russia national-scale ratings on Evraz and Mastercroft were affirmed.
The outlook is stable.
S&P noted that the rating action reflects another year of profitable and cash-generative consolidated operations, following the group's consolidation of its trading operations in 2004 and mining assets in 2004-2005.
The ratings on Evraz and Mastercroft are currently equalized because Evraz owns most of its operating subsidiaries through Mastercroft, the agency added.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.