Standard & Poor’s Ratings Services has assigned an issue rating of B+ to a proposed Eurobond to be issued by the Russia-headquartered international steel manufacturer Evraz Group S.A. This is in line with the B+ long-term corporate credit rating on Evraz and the issue rating on its other existing rated debt instruments.

“We assigned a recovery rating of 4 to the proposed bond, indicating our expectation of average (30%-50%) recovery for bondholders in the event of a payment default. This is also in line with Evraz’s existing rated debt,” S&P said.