S&P: Claymont on positive watch

Standard & Poor's said it placed all of its ratings, including its B corporate credit rating, on Claymont Steel Inc. on CreditWatch with positive implications.

The positive implications indicate the potential for an upward rating action, based on Claymont's definitive agreement to be acquired by Evraz Group SA (BB-/positive), the agency said.

Upon the close of the proposed transaction, Claymont will be a wholly owned subsidiary of Evraz Group, based in Russia, which will continue to be a publicly traded entity, the agency said, noting that the aggregate purchase price is $564.8 million, including debt and net of cash.

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