Issuer Ranking: U.S. Metals & Mining Companies, Strongest To Weakest Dec 08
Standard & Poors, December 2008
Abstract
During the past few months, the prospects for credit quality in the U.S. metals and mining sector have rapidly and decidedly turned negative because of the weak economy and the credit crisis. As a result, Standard & Poor's Ratings Services expects credit metrics for most companies in the industry to decline significantly in the coming months. We've already taken a number of negative ratings actions, particularly for companies with weaker business positions and high levels of debt, including five downgrades over the past several months. Currently, of the 43 public rated U.S. metals and mining companies, 13 have negative outlooks or are on CreditWatch with negative implications, and only four have positive outlooks or are on CreditWatch with positive implications....
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Alcoa Inc.
- Carpenter Technology Corp.
- Newmont Mining Corp.
- Nucor Corp.
- Worthington Industries Inc.
- Coeur d'Alene Mines Corp.
- Commercial Metals Co.
- Gerdau Ameristeel Corp.
- Freeport-McMoRan Copper & Gold Inc.
- Consol Energy Inc.
- Drummond Co. Inc.
- AK Steel Holding Corp.
- GrafTech International Ltd.
- Ryerson Inc.
- Allegheny Technologies Inc.
- Steel Dynamics Inc.
- USEC Inc.
- Peabody Energy Corp.
- Arch Coal Inc.
- California Steel Industries Inc.
- Stillwater Mining Co.
- Massey Energy Co.
- Century Aluminum Co.
- United States Steel Corp.
- James River Coal Co.
- Walter Energy Inc.
- Compass Minerals International Inc.
- Aleris International Inc.
- American Rock Salt Co. LLC
- Wise Metals Group LLC
- Alpha Natural Resources Inc.(Old)
- Alpha Natural Resources Inc.
- International Coal Group LLC
- Tube City IMS Corp.
- Indalex Holding Corp.
- Continental Alloys & Services Inc.
- JMC Steel Group Inc.
- Reliance Steel & Aluminum Co.
- Metals USA Holdings Corp.
- Edgen Murray II L.P.
- Oxbow Carbon LLC
- Noranda Aluminum Holding Corp.
- McJunkin Red Man Holding Corp.
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