Fitch revises Evraz view to positive

Fitch Ratings said it revised Evraz plc’s outlook to positive from stable and affirmed the long-term issuer default rating and senior unsecured debt instrument rating at BB+.

The recovery rating is RR4.

“The outlook revision reflects Evraz’s resilient performance in challenging markets in 2020, with funds from operations (FFO) net leverage at 2.0x and positive free cash flow (FCF). It also reflects expected improvements to financial metrics through incremental debt reduction and better earnings prospects,” Fitch said in a news release.

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