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Baosteel Group Corp. Dec 06
Standard & Poors, Dec 2006
Abstract
Strong business profile derived from its 78% ownership of China's largest steel producer Modest financial policy and very strong financial profile Prudent growth strategy and ability to successfully integrate acquired assets Weaknesses associated with steel-making operations Risks associated with acquisitions and overseas investments The rating on Baosteel Group Corp. (Baosteel) reflects the company's strong business profile, which is supported by the strong business profile of its 78%-owned subsidiary Baoshan Iron & Steel Co. Ltd. (Baoshan; A-/Stable/--), China's largest and most competitive steel manufacturer. The rating also reflects Baosteel's modest financial policy and its very strong financial profile. The company's prudent growth strategy and its ability to successfully integrate acquired assets also support the rating. Baosteel's business strengths are tempered by...
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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