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Nippon Steel's Domestic Straight Bonds Rated 'A-' Product Image

Nippon Steel's Domestic Straight Bonds Rated 'A-'

  • ID: 1788048
  • May 2011
  • Standard & Poors

Abstract
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

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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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