Moody’s rates Evraz Ba1, withdraws parent

Moody's Investors Service said it assigned a Ba1 corporate family rating and Ba1-PD probability of default rating to Evraz plc.

The outlook is stable.

At the same time, Moody's affirmed the Ba2 rating of the $750 million senior unsecured notes due 2023 issued by Evraz, following the substitution of the notes' issuer, as a result of which all rights and obligations under the notes were transferred from Evraz Group SA to Evraz on March 13.

Moody's withdrew the Ba1 corporate family rating, Ba1-PD probability of default rating and stable outlook of Evraz Group.

The agency said the actions follow the company's corporate reorganization. Evraz consolidates all the group's assets and will remain the reporting entity for the consolidated group.

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