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Baoshan Iron & Steel Co. Ltd. Feb 09
Standard & Poors, Feb 2009
Abstract
Leadership in Chinese steel market Strong liquidity position and good access to funding Good long-term demand prospects for steel products High dependence on imported iron ore and limited ability to fully pass through cost increases Cyclical, capital-intensive, and highly competitive nature of the steel industry The rating on Shanghai-based steel maker Baoshan Iron & Steel Co. Ltd. reflects the company's strong business profile, which is underpinned by its leadership position in China's domestic steel market. Baoshan's strong liquidity position and good access to funding are additional key supporting factors for the rating. The good long-term demand prospects for steel products in China, driven by the country's ongoing industrialization and urbanization, are also factored into the rating. The rating on Baoshan...
Companies mentioned in this report are: Baoshan Iron & Steel Co. Ltd.,Baosteel Group Corp.
Action: Review
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: Full Analysis
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