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Industry Credit Outlook: U.S. Metals And Mining Credit Quality Is Improving In Line With Economic Conditions Apr 10 Product Image

Industry Credit Outlook: U.S. Metals And Mining Credit Quality Is Improving In Line With Economic Conditions Apr 10

  • Published: April 2010
  • Region: United States
  • Standard & Poors

FEATURED COMPANIES

  • Acos Villares S.A.
  • BHP Billiton Ltd.
  • Gerdau Ameristeel Corp.
  • Megasteel Sdn. Bhd.
  • Peabody Energy Corp.
  • Stein Insurance Co. Ltd.
  • MORE

Abstract
Credit quality continues to gradually improve for U.S. metals and mining companies as demand and business conditions slowly recover. Although demand is unlikely to bounce back to the levels of the first half of 2008 in the near term and the recovery is likely to be uneven across the sector, Standard & Poor's Ratings Services expects credit quality to continue to strengthen during 2010 along with the general economy. Revenues are still subdued compared with historical levels, but inventories are low throughout most of the supply chain and even the current modest recovery has supported improved pricing, utilization rates, and sales volumes, which have resulted in better financial performance for most industry participants. Despite our more positive view of credit...

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 READ MORE >

- Alcoa Inc.
- ASARCO LCC
- BHP Billiton Ltd.
- Materion Corp.
- Carpenter Technology Corp.
- Vale Canada Ltd.
- Ispat Inland Inc.
- Newmont Mining Corp.
- Nucor Corp.
- Freeport-McMoRan Corp
- Quanex Corp.
- Worthington Industries Inc.
- Alumax Inc.
- Rio Tinto Ltd.
- Coeur Mining Inc.
- Cliffs Natural Resources Inc.
- Commercial Metals Co.
- Comalco Ltd.
- North Ltd.
- Rio Tinto Alcan Inc.
- Xstrata Canada Corp.
- Cyprus Amax Minerals Co.
- Gerdau Ameristeel Corp.
- Usinor S.A.
- Hecla Mining Co.
- Pechiney S.A.
- Rio Tinto PLC
- Norsk Hydro ASA
- U.S. Borax Inc.
- Rio Tinto America Inc.
- Rio Tinto Finance Overseas Ltd.
- SSAB AB
- Freeport-McMoRan Copper & Gold Inc.
- Placer Dome Inc.
- POSCO
- Consol Energy Inc.
- Allegheny Ludlum Corp.
- Teck Resources Ltd.
- Teck Metals Ltd.
- Barrick Gold Corp.
- Qit-Fer et Titane Inc.
- BHP Operations Inc.
- Xstrata Queensland Ltd.
- Sheffield Steel Corp.
- Essar Steel Algoma Inc.
- AK Steel Corp.
- AK Steel Holding Corp.
- Celulosa Arauco y Constitucion S.A.
- Minera Mexico S.A. de C.V.
- WHX Corp.
- Rio Tinto Canada Inc.
- Ryerson Inc.
- Allegheny Technologies Inc.
- Newmont Australia Ltd.
- Titanium Metals Corp.
- Acindar Industria Argentina de Aceros S.A.
- Companhia Siderurgica Nacional
- Neenah Foundry Co.
- Kobe Steel Ltd.
- Nippon Steel & Sumitomo Metal Corp.
- Sumitomo Metal Industries Ltd.
- Industrias Penoles S.A.B. de C.V.
- Steel Dynamics Inc.
- Southern Copper Corp.
- Hylsa S.A. de C.V.
- Baosteel Group Corp.
- Ternium Mexico S.A. de C.V.
- Corporacion Nacional del Cobre de Chile
- Itochu Australia Ltd.
- Alrosa OJSC
- Metals USA Inc.
- Usinas Siderurgicas de Minas Gerais S.A.
- Peabody Energy Corp.
- ArcelorMittal
- Ispat Inland L.P.
- Grupo Mexico S.A.B. de C.V.
- IPSCO Inc.
- California Steel Industries Inc.
- Kinross Gold Corp.
- Sumitomo Metal Mining Co. Ltd.
- Mitsui Mining & Smelting Co. Ltd.
- Mitsubishi Materials Corp.
- Gerdau S.A.
- Stillwater Mining Co.
- Vale S.A.
- Massey Energy Co.
- Minera Escondida Ltda.
- Mittal Steel Europe S.A.
- ArcelorMittal Dofasco Inc.
- Stelco Inc.
- Century Aluminum Co.
- United States Steel Corp.
- ThyssenKrupp AG
- BHP Billiton PLC
- Aluminum Corp. of China Ltd.
- OAO Magnitogorsk Metallurgical Kombinat
- Walter Energy Inc.
- Erdenet Mining Corp.
- BHP Billiton Nickel West Pty Ltd.
- Heraeus Holding GmbH
- Stein Insurance Co. Ltd.
- Anglo American PLC
- Alumina Ltd.
- Compass Minerals International Inc.
- ArcelorMittal USA Inc.
- Xstrata PLC
- ArcelorMittal Finance
- Asia Aluminum Holdings Ltd.
- PT ANTAM (Persero) Tbk.
- Aleris International Inc.
- JFE Holdings Inc.
- Baoshan Iron & Steel Co. Ltd.
- OAO Severstal
- Americas Mining Corp.
- American Rock Salt Co. LLC
- Wise Metals Group LLC
- PT Kaltim Prima Coal
- Newmont USA Ltd.
- MMC Norilsk Nickel OJSC
- Vedanta Resources PLC
- Novelis Inc.
- HudBay Minerals Inc
- PT Vale Indonesia Tbk
- Tata Steel Ltd.
- Eregli Demir ve Celik Fabrikalari T.A.S.
- NLMK OJSC
- Chaparral Steel Co.
- Tube City IMS Corp.
- Evraz Group S.A.
- Acos Villares S.A.
- Claymont Steel Inc.
- G Steel Public Co. Ltd.
- Ocean Grand Holdings Ltd.
- National Steel S.A.
- Megasteel Sdn. Bhd.
- Revere Industries LLC
- JSC Azovstal Iron and Steel Works
- Murray International Metals Ltd.
- Indalex Holding Corp.
- JMC Steel Group
- Siderurgica del Turbio S.A.
- CAP S.A.
- PNA Group Inc.
- Thompson Creek Metals Co. Inc.
- BP Metals LLC
- JMC Steel Group Inc.
- Bradken Inc.
- Reliance Steel & Aluminum Co.
- Metals USA Holdings Corp.
- Korea Resources Corp.
- New World Resources N.V.
- Noranda Aluminum Holding Corp.
- Cristal Mining Australia Ltd.
- Tata Steel UK Holdings Ltd.
- Rain Calcining Ltd.
- Goldcorp Inc.
- Barzel Industries Inc.
- Molibdenos y Metales S.A.
- Gold Fields Ltd.
- Eurasian Natural Resources Corp. PLC
- AngloGold Ashanti Ltd.
- Rain CII Carbon (India) Ltd.
- Falconbridge Ltd. (Old)
- ALCOA Aluminio S.A.
- Alcoa of Australia Ltd.
- Corus Group PLC
- Oregon Steel Mills Inc.
- MMI Products Inc.
- China Steel Corp.
- Compass Minerals Group Inc.
- Arcelor S.A.
- JFE Steel Corp.
- Dubai Multi Commodities Centre Authority
- Sual International Ltd.
- Zlomrex S.A.

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