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Industry Report Card: Prospects Continue To Recover For EMEA Metals And Mining Groups, But Steel Producers Lag Behind Miners Jul 10 Product Image

Industry Report Card: Prospects Continue To Recover For EMEA Metals And Mining Groups, But Steel Producers Lag Behind Miners Jul 10

  • Published: July 2010
  • Region: EMEA
  • Standard & Poors

FEATURED COMPANIES

  • Alrosa OJSC
  • ArcelorMittal
  • Ferrexpo PLC
  • MMC Norilsk Nickel OJSC
  • Norsk Hydro ASA
  • Rio Tinto PLC
  • MORE

Abstract
In Standard & Poor's Ratings Services' opinion, credit quality in the Europe, Middle East, and Africa (EMEA) metals and mining sector has broadly stabilized in recent months. However, we continue to see a divergence of operating performance, credit metrics, and rating outlooks between the mining sector--which has rebounded quickly--and the steel sector, which in our view faces more challenging market conditions. Furthermore, we see a number of ongoing downside risks, in particular from a potential slowdown in economic growth, which we believe could lower demand in industrial end markets during the second half of 2010 and possibly into 2011. After a high number of negative rating actions in 2009 reflecting the sharp downturn in mining and steel sectors, we took...

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 READ MORE >

- Rio Tinto PLC
- Norsk Hydro ASA
- SSAB AB
- Glencore International AG
- SGL Carbon SE
- Alrosa OJSC
- ArcelorMittal
- Vale S.A.
- ThyssenKrupp AG
- Anglo American PLC
- Eco-Bat Technologies Ltd.
- Xstrata PLC
- OAO Severstal
- MMC Norilsk Nickel OJSC
- OAO TMK
- Eregli Demir ve Celik Fabrikalari T.A.S.
- NLMK OJSC
- Evraz Group S.A.
- The New Reclamation Group Pty Ltd.
- Zlomrex S.A.
- New World Resources N.V.
- Gold Fields Ltd.
- Eurasian Natural Resources Corp. PLC
- Severstal Columbus LLC
- AngloGold Ashanti Ltd.
- Ferrexpo PLC

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