Standard & Poor’s upgrades Evraz to B+

Evraz Group welcomes the upgrade by Standard and Poor’s Rating Service of Evraz’s long-term corporate credit rating from ‘B’ (Stable) to ‘B+’ (Stable).

Standard & Poor’s commented: “The upgrade reflects an improvement of Evraz's liquidity, which we now assess as adequate, following the refinancing of short-term debt. Evraz used the proceeds of its RUB15 billion bond placement and $950 million pre-export finance facility to refinance this debt. Evraz is also benefiting from a stronger financial performance in 2010 and 2011 on the back of more favourable industry conditions.”