Outlook On U.S. Steelmaker Severstal Columbus Revised To Positive On Expansion Nearing Completion; Affirmed At 'B' Jun 11
- ID: 1824442
- June 2011
- Region: United States
- Standard & Poors
Severstal Columbus, U.S. steelmaker and 100% subsidiary of Russian OAO Severstal, has almost completed phase-2 expansion, earlier than initially expected. We expect that phase 2 should double steelmaking capacity at Severstal Columbus and dramatically increase profits and cash flows from their current weak levels. We are revising our outlook on Severstal Columbus to positive and affirming the 'B' long-term rating. The positive outlook reflects our expectation of higher profitability and cash flow translating into stronger stand-alone financial metrics and a possible upgrade within the next 12 months. MOSCOW (Standard & Poor's) June 14, 2011--Standard & Poor's Ratings Services said today that it had revised its outlook on Severstal Columbus LLC, a U.S.-based steelmaker indirectly 100% owned by Russian steelmaker OAO...
Companies mentioned in this report are: Severstal Columbus LLC
Action: Outlook: Positive
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