Research Update: European Steel Dust Recycler Befesa Zinc Assigned 'B+' Long-Term Rating; Outlook Stable
- ID: 1724153
- May 2011
- Region: Europe
- Standard & Poors
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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