New York, July 21, 2014 -- Moody's Investors Service comments that AK Steel's$700 million acquisition of certain assets of Severstal North America, a subsidiary of Severstal OAO (Ba1 corporate family rating), including the steel assets located in Dearborn Michigan, has no impact on AK Steel's B3 corporate family rating at this time. The company indicates that it intends to fund the transaction with a combination of debt and equity. Although the transaction could add some incremental leverage in the near-term, the strategic benefits, as they are realized over the near to medium term, should enable AK Steel to improve its operating performance and strengthen its debt protection metrics from their current weak levels to a level more appropriate for the rating.

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