Fitch: Mastercroft, Evraz on watch positive

Fitch Ratings said it placed Mastercroft Ltd.'s senior unsecured B rating and the B-rated guaranteed bonds of Evraz Securities SA on Rating Watch Positive.

At the same time, Fitch affirmed Mastercroft at short-term B.

This rating action follows the recent announcement of a planned initial public offering on the London Stock Exchange of Evraz Group SA (unrated), a newly incorporated parent holding company of Mastercroft. The watch is expected to be resolved by early July on the completion of the Evraz Group IPO, publication of Mastercroft's consolidated accounts and further management discussion.

The positive watch reflects Fitch's expectation of a favorable rating impact on Mastercroft from the planned IPO.

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