RIA Novosti reported that Moody's has downgraded Russia-based metals and mining company Evraz Group S.A's rating to B1 from Ba3, with a negative outlook.

Moody's said in a statement that the rating of the company USD 2.75 billion senior unsecured debt with maturities in 2013, 2015 and 2018 was lowered from B2 to B1 with a negative outlook.

The statement said Moody's placed the company's ratings on Rating Watch Negative on June 8th. The rating agency's decision to downgrade the ratings of Evraz Group is based on the company's financial performance in the first half of 2009.

(Sourced from RIA Novosti)