NLMK, Severstal rally as sov ceiling pierced
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Emerging MarketsCEE

NLMK, Severstal rally as sov ceiling pierced


Standard & Poor’s upgraded Novolipetsk Steel (NLMK) and Severstal to one notch above the Russian sovereign rating at the end of last week, prompting a rally in their bonds as investment grade funds became able to buy the notes.

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