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Baosteel Group Corp. Assigned 'A' Rating With Stable Outlook; Proposed Notes Rated 'A' Nov 11
Standard & Poors, Nov 2011
Abstract
China-based Baosteel has a satisfactory business risk profile and an intermediate financial risk profile. We believe there is a 'high' likelihood of extraordinary government support to the company in the event of financial distress. We are assigning our 'A' long-term corporate credit rating to Baosteel and our 'A' issue rating to the company's proposed issue of RMB-denominated senior unsecured notes. We are also assigning our 'cnAA+' Greater China scale credit rating to Baosteel and the notes. The stable outlook reflects our expectation that Baosteel's market position will remain strong with its focus on high-end products over the next 12-24 months. HONG KONG (Standard & Poor's) Nov. 21, 2011--Standard & Poor's Ratings Services today assigned its 'A' long-term corporate credit rating...
Companies mentioned in this report are: Baosteel Group Corp.
Action: New Rating
Action: Outlook: Stable
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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