S&P PLACES SEVERSTAL'S 'BB' RATING ON WATCH NEGATIVE DUE TO WEAK STEEL MARKET

摘要

Standard & Poor's Ratings Services has placed on CreditWatch with negative implications its 'BB' long-term corporate credit and senior unsecured debt ratings, on Russia-based steel producer OAO Severstal, the ratings agency said in a statement on May 28. The CreditWatch placement reflects the agency's view of heightened near-term downside risks for the long-term ratings. This is due to a more severe weakening of the group's operations than S&P had previously factored in, caused by the sharp downturn in the steel sector and macroeconomic environment.