Moody’s has improved the long-term rating of Severstal from Ba1 to Baa3, and the outlook from stable to positive following the revision of the Russia rating.
“We welcome the decision of Moody’s to review the Russia’s rating and improve that of Severstal. That the economic situation in the country is improving is seen by the metal consumption growth as well. After several years of decline, in 2017 the steel demand in Russia grew by 5%, and this year we expect it to increase by 3-4% more”, Severstal deputy CFO Alexei Kulichenko said. (Ukrainian metal)