Ratings On Nippon Steel Placed On CreditWatch Negative On Expected Merger With Sumitomo Metal Industries Dec 11
- Language: English
- Published: December 2011
TOKYO (Standard & Poor's) May 17, 2011--Standard & Poor's Ratings Services today assigned its 'A-' rating to Nippon Steel Corp.'s (A-/Negative/--) -10 billion domestic senior unsecured bonds, 0.580%, due March 18, 2016, and -30 billion domestic senior unsecured bonds, 1.293%, due March 19, 2021. The rating on Nippon Steel reflects its solid business franchise, supported by its strong technological capabilities and a product portfolio consisting mainly of high-grade steel, and its strong customer base, which includes highly competitive Japanese automakers and other manufacturers. The company is also well-positioned to benefit from growing demand in China and other Asian markets, due to their proximity to Japan. These strengths are partially offset by the company's weak profitability now compared with in the...
Companies mentioned in this report are: Nippon Steel Corp.
Action: New Rating
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Nippon Steel Corp.