Issuer Ranking: U.S. Metals And Mining Companies, Strongest To Weakest Apr 10
Standard & Poors, April 2010
Abstract
Credit quality continues to gradually improve for U.S. metals and mining companies as demand and business conditions slowly recover. Although demand is unlikely to bounce back to the levels of the first half of 2008 in the near term and the recovery is likely to be uneven across the sector, Standard & Poor's Ratings Services expects credit quality to continue to strengthen during 2010 along with the general economy. Revenues are still subdued compared with historical levels, but inventories are low throughout most of the supply chain and even the current modest recovery has supported improved pricing, utilization rates, and sales volumes, which have resulted in better financial performance for most industry participants. Despite our more positive view of credit...
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.
- Cliffs Natural Resources Inc.
- Commercial Metals Co.
- Gerdau Ameristeel Corp.
- Freeport-McMoRan Copper & Gold Inc.
- Consol Energy Inc.
- Drummond Co. Inc.
- AK Steel Holding Corp.
- GrafTech International Ltd.
- International Wire Group 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.
- Wise Metals Group LLC
- Alpha Natural Resources Inc.
- International Coal Group LLC
- Murray Energy Corp.
- Tube City IMS Corp.
- Continental Alloys & Services Inc.
- JMC Steel Group Inc.
- Reliance Steel & Aluminum Co.
- Metals USA Holdings Corp.
- McJunkin Red Man Corp.
- Edgen Murray II L.P.
- Oxbow Carbon LLC
- Noranda Aluminum Holding Corp.
- Cloud Peak Energy Resources LLC
- Ryerson Holding Corp.
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