- Language: English
- 108 Pages
- Published: January 2012
- Region: China
Summary: Baosteel Group Corp. Dec 11
- Published: December 2011
- Standard & Poors
The rating on Baosteel Group Corp. reflects the company's stand-alone credit profile of 'bbb+' and our opinion of a "high" likelihood of timely and sufficient extraordinary support from the government of the People's Republic of China (AA-/Stable/A-1+; cnAAA/cnA-1+) in the event of financial distress. We consider Baosteel as a government-related entity (GRE). The Chinese government owns 100% of the company through the State Assets Supervision and Administration Commission (SASAC). In accordance with our criteria for GREs, our view of a "high" likelihood of extraordinary government support is based on our assessment of the following Baosteel characteristics: "Important" role to the government. Baosteel is the leading steel company in China and the world's third largest steelmaker. The company serves government policy...
Companies mentioned in this report are: Baosteel Group Corp.,POSCO
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Baosteel Group Corp.,POSCO