OREANDA-NEWS. PAO Severstal, one of the world’s leading steel and steel-related mining companies, announces that S&P Global Ratings, a global leader in credit ratings and research, has upgraded Severstal to 'BBB-' from 'BB+' in its long-term corporate credit rating. The outlook is negative. Severstal’s Russia national Long-term rating has also been raised to 'AAA'(rus) from 'AA+'(rus). At the same time, the issue ratings on Severstal's senior unsecured notes has changed to 'BBB-' from 'BB+', in line with the corporate credit rating.

The upgrade reflects Severstal's industry leading operating efficiency, low debt, and conservative financial policy, which should enable the company to maintain robust credit metrics in the next two years even in the context of the industry downturn and weakening Russian steel demand, as demonstrated over the last six months.