24 февраля 201007:07
S&P reduces Evraz Group’s rating
Standard & Poor’s decreased Evraz Group’s rating from B+ down to B, with Stable Rating Outlook. ‘The decrease in ratings is a sign that the agency believes Evraz to be entering a period of operational weakness for the next couple of years due to the steel industry’s dramatic downfall,’ says the agency’s credit analyst Alex Herbert. S&P expects the company to remain heavily in debt (stemming from some earlier acquisitions) and to have limited cash generation. The agency feels Evraz Group’s profits and cash flow will gradually restore as the steel market slowly comes back to life.