Criteria | Corporates | Industrials: Key Credit Factors: Methodology And Assumptions On Risks In The Metals Industry Jun 09
Standard & Poors, June 2009
Abstract
Standard & Poor's Ratings Services' is refining its methodology and assumptions related to our assessments of various industries, and we are publishing this article to help market participants better understand our approach. For more, see "Criteria: Principles of Corporate and Government Ratings," which we published on June 26, 2007, on RatingsDirect at www.ratingsdirect.com and Standard & Poor's Web site at www.standardandpoors.com. We assess the business risk profile in the metals industry as being higher than that of some other industries and sectors. The key credit factors in this assessment are: The metals industry's high cyclicality, capital intensity and leverage; The degree of competition in the industry; and The risks associated with companies' development of large-scale facilities. Our analytic framework for...
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.
- Rio Tinto PLC
- Norsk Hydro ASA
- SSAB AB
- 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.
- ArcelorMittal
- Arch Coal Inc.
- California Steel Industries Inc.
- Stillwater Mining Co.
- Massey Energy Co.
- Century Aluminum Co.
- United States Steel Corp.
- ThyssenKrupp AG
- OAO Magnitogorsk Metallurgical Kombinat
- Walter Energy Inc.
- Anglo American PLC
- Compass Minerals International Inc.
- Eco-Bat Technologies Ltd.
- Xstrata PLC
- Aleris International Inc.
- Wise Metals Group LLC
- Alpha Natural Resources Inc.
- International Coal Group LLC
- OAO TMK
- Eregli Demir ve Celik Fabrikalari T.A.S.
- Kloeckner & Co. S.E.
- NLMK OJSC
- Evraz Group S.A.
- The New Reclamation Group Pty Ltd.
- 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.
- Delong Holdings Ltd.
- Gold Fields Ltd.
- McJunkin Red Man Holding Corp.
- Indalex Holding Corp.
- James River Coal Co.
- Baoshan Iron & Steel Co. Ltd.
- Alpha Natural Resources Inc.(Old)
- Tube City IMS Corp.
Customers who bought this item also bought
All rights reserved. © Copyright 2013 Research and Markets WWW4
Terms and Conditions Privacy Policy Publishers Employment Opportunities Site Map Link to us Webmaster Affiliate Network
