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Prospect News home > News index > List of issuers E > Headlines for Evraz plc > News item |
Fitch ups Evraz, rates parent BB+
Fitch Ratings said it upgraded Evraz Group SA's long-term issuer default rating and senior unsecured debt instrument rating to BB+ from BB.
At the same time, Fitch assigned the same long-term issuer default rating and senior unsecured debt instrument rating of BB+ to Evraz plc, the parent company.
The outlooks are stable.
Following the announcement on March 13 of issuer substitution, all existing eurobond issues are moved from Evraz Group to Evraz.
“Today's upgrade reflects Evraz's stronger financial profile, a strategic move to increase the proportion of finished steel and diversify into flat products, while retaining a strong focus on costs,” the agency said in a news release.
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