MOSCOW, July 25 (RIA Novosti) - Standard & Poor's has upgraded the long-term credit and senior unsecured debt ratings of Russian steel-producer Severstal [RTS: CHMF] from BB- to BB, the international rating agency said Wednesday.
The company's national scale rating has also been raised from ruAA- to ruAA based on analysis of the company's financial and operational performance.
Severstal accounts for over 16% of steel output in Russia. Its production facilities are located in Russia, the United States, Italy, France, Britain and Ukraine. The company's sales totaled 17.6 million metric tons in 2006.
