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Baosteel Group Corp. Dec 05
Standard & Poors, Dec 2005
Abstract
Strong market position in China's steel industry; Improving product mix; Improving operating efficiency; Competitive cost position; Growth market; and Strong financial profile. Highly cyclical industry; Increasing competition; Exposure to rising cost of raw materials; and Uncertainties associated with consolidation in China's steel industry. The rating on Baosteel Group Corp. (Baosteel Group) reflects the company's strong market position in the Chinese steel industry, a steady increase in high-value-added products, improving operating efficiency, a competitive cost position, and strong financial profile. The rating also takes into consideration the growth potential in demand for steel in China. These strengths are offset by the highly cyclical nature of the steel industry; increasingly competitive markets, both domestically and internationally; the company's exposure to the rising...
Companies mentioned in this report are: Baosteel Group Corp.,Baoshan Iron & Steel Co. Ltd.
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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