Lavrov warns against partition of SyriaRussian Politics & Diplomacy September 23, 0:00
Lavrov calls to coordinate Russian, US military action in SyriaRussian Politics & Diplomacy September 22, 21:05
Lavrov blames Obama administration for souring Russia-US tiesRussian Politics & Diplomacy September 22, 20:41
Waging war on Korean Peninsula inadmissible, says LavrovRussian Politics & Diplomacy September 22, 20:36
Russian Northern Fleet completes drills in ArcticMilitary & Defense September 22, 18:01
OPEC and non-OPEC countries to continue talks on oil production cut dealBusiness & Economy September 22, 17:28
Russian pair figure skaters Kavaguti, Smirnov retire from sportSport September 22, 16:48
Record number of delegations register for St. Petersburg-hosted IPU AssemblyRussian Politics & Diplomacy September 22, 16:47
Astronauts to make quickest trip ever to ISS in DecemberScience & Space September 22, 16:27
LONDON, September 22. /TASS/. The international rating agency Standard & Poor’s lowered its long-term foreign-currency and local-currency corporate credit ratings on Evraz North America (ENA), a subsidiary of Russian steel giant Evraz Group, to 'B+' from 'BB-', the outlook is stable.
"North America-based steel producer Evraz North America Plc (ENA) has demonstrated significantly weaker operating and financial performances than we assumed previously," the agency said in its statement.
"We are lowering the long-term corporate credit rating on the company to 'B+' from 'BB-' and revising our assessment of ENA's financial risk profile to ‘highly leveraged’," the statement said.
"Our stable outlook reflects our expectation that ENA does not aggressively increase its debt, and consequently maintains a sustainable capital structure," the agency added.
Evraz is one of the world’s largest vertically integrated metals and mining companies with assets in Russia, Ukraine, Europe, the United States, Canada and South Africa. The company, which employs over 110,000 people, produced 16.1 million tons of steel in 2013.