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Siderúrgica del Turbio S.A. May 11 Product Image

Siderúrgica del Turbio S.A. May 11

  • ID: 1724297
  • May 2011
  • Standard & Poors

Abstract
Position as the second-largest Venezuelan steelmaker; Profitability despite weak economic conditions; and Comfortable maturity profile. Expropriation in progress; High political and business risk in Venezuela; High correlation with the Venezuelan construction industry; Operation amid currency exchange controls in Venezuela; and Highly cyclical end markets. Standard & Poor's Ratings Services' ratings on Siderúrgica del Turbio S.A. (Sidetur) reflect the challenges the company faces because of Venezuela's political, regulatory, and business environment, with an expropriation now in progress, a high correlation with the Venezuelan construction industry, cyclical end markets, and currency exchange controls in Venezuela. These factors more than offset the benefits from currently favorable steel market conditions, Sidetur's position as the second-largest Venezuelan steel maker, and its comfortable debt maturity profile....

Companies mentioned in this report are:
- Siderurgica del Turbio S.A.

Action: Review

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: Full Analysis

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