Russian steelmaking and mining company Evraz has announced that the international rating agency Fitch Ratings has assigned it a long-term credit rating of BB-, affirming its outlook as stable.
Fitch indicated that Evraz's healthy performance is mainly driven by steel consuming industries, the company's competitive cost position, particularly due to high self-sufficiency in key raw materials such as iron ore and coking coal, and the expected positive impact of the Raspadskaya consolidation.
The ratings are supported by Fitch's expectations of Evraz's positive free cash flow generation over the medium term.