Summary: Evraz Group S.A. Apr 11

  • ID: 1718166
  • April 2011
  • Standard & Poors
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The ratings on Russia-based international steel producer Evraz Group S.A. reflect Standard & Poor's Ratings Services' opinion of its fair business risk profile and aggressive financial risk profile. Constraining factors include large debt maturities, high leverage, and limited financial covenant headroom in our credit scenario, as well as exposure to the volatile steel sector and Russian country risks. Supportive factors include a leading domestic market position, especially in long steel products; a high level of vertical integration into its own raw materials; and the group's international operations. In our conservative credit scenario we anticipate moderate growth in profits in 2011 compared with 2010 when the company generated EBITDA of $2.3 billion (17% margin on sales). This is based on: Our...

Companies mentioned in this report are:
- Evraz Group S.A.

Action: Review

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- Evraz Group S.A.

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