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Issuer Ranking: European Metals And Mining Companies, Strongest To Weakest Sep 08

  • ID: 1711309
  • September 2008
  • Region: Europe
  • Standard & Poors


  • Alrosa OJSC
  • Eco-Bat Technologies Ltd.
  • Kloeckner & Co. S.E.
  • New World Resources N.V.
  • OAO Severstal
  • SGL Carbon SE
  • MORE

The credit outlook in the European mining and steel sectors has become more negative in recent months. Demand in the developed markets of Europe and the U.S. is weakening, and concerns are growing that economic growth in emerging markets is also slowing. Market prices for many base and precious metals are declining--some sharply, though prices for bulk commodities remain high. Input costs have risen considerably, especially in steel, and, after a significant rise in steel prices in response, prices are now turning down. Large-scale spending on capital expenditures and acquisitions continues to consume cash flows. Event risks remain, notably from merger and acquisition activity, where the willingness to pursue quite large transactions persists, albeit at a lower level than in...

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

Note: Product cover images may vary from those shown

- Rio Tinto PLC
- Norsk Hydro ASA
- SGL Carbon SE
- Alrosa OJSC
- ArcelorMittal
- ThyssenKrupp AG
- OAO Magnitogorsk Metallurgical Kombinat
- Anglo American PLC
- Eco-Bat Technologies Ltd.
- Xstrata PLC
- OAO Severstal
- MMC Norilsk Nickel OJSC
- Eregli Demir ve Celik Fabrikalari T.A.S.
- Kloeckner & Co. S.E.
- Evraz Group S.A.
- JSC Azovstal Iron and Steel Works
- The New Reclamation Group Pty Ltd.
- Zlomrex S.A.
- New World Resources N.V.
- Maretex Ltd.
- Interpipe Ltd.

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown


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