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Moody’s upgrades OAO Severstal

Keywords: Tags  OAO Severstal, Moody's, rating upgrade

MOSCOW — Ratings agency Moody’s Investor Service Inc. has upgraded Russian steelmaker OAO Severstal’s outlook to positive from stable due to its exposure to strong markets in Russia and the United States and its relatively low level of debt.

The agency said Aug. 26 it expects Severstal to maintain its current cost-competitive position as a result of the company’s high level of vertical integration for key raw materials and self-sufficiency in coal and iron ore.

Moody’s said it expects Severstal’s financial situation to stay resilient, even in the currently challenging macroeconomic environment and soft global steel market.

A version of this article was first published by AMM sister publication Steel First.

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