Fitch: Mastercroft up to positive

Fitch Ratings said it revised the outlook for Mastercroft Ltd. to positive from stable. At the same time, the agency affirmed the senior unsecured B and short-term B ratings.

The agency also affirms the senior unsecured rating of B for notes issued by Mastercroft's 100% owned EvrazSecurities SA.

Fitch said the rating action reflects the company's successful strengthening of its financial performance in 2004, together with generation of synergies from its three operating mills and consolidation of its mining operations, thus maintaining its competitive position as a low-cost steel manufacturer among international peers.

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