Research Update: European Steel Dust Recycler Befesa Zinc Assigned 'B+' Long-Term Rating; Outlook Stable

  • ID: 1724153
  • May 2011
  • Region: Europe
  • Standard & Poors
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Product Type: Research Update
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Leading European steel dust recycler Befesa Zinc S.A.U. is raising debt capital of -300 million. In our view, Befesa Zinc has a weak business risk profile and an aggressive financial risk profile. We are assigning our 'B+' long-term corporate credit rating to Befesa Zinc. The stable outlook reflects our view that Befesa Zinc will continue to generate healthy operating cash flows, and that it will maintain adequate liquidity. On May 2, 2011, Standard & Poor's Ratings Services assigned its 'B+' long-term corporate credit rating to European steel dust recycler Befesa Zinc S.A.U. The outlook is stable. At the same time, we assigned a 'B+' issue rating to the -300 million senior secured notes issued by Zinc Capital S.A., a Luxembourg-registered...

Companies mentioned in this report are: Befesa Zinc S.A.U.
Action: New Rating

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Befesa Zinc S.A.U.

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