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Baosteel Outlooks Revised To Positive On Expected Improvement In Business, Financial Profiles Oct 07
Standard & Poors, Oct 2007
Abstract
HONG KONG (Standard & Poor's) Oct. 11, 2007--Standard & Poor's Rating Services said today that it had revised the outlook on the ratings on Baosteel Group Corp. (Baosteel Group) and its subsidiary Baoshan Iron & Steel Co. Ltd. (Baoshan Ltd.) to positive from stable. At the same time, Standard & Poor's affirmed the 'A-' long-term corporate credit ratings on the two companies (collectively 'Baosteel'). 'The positive outlook reflects our expectation that the business and financial profiles of Baosteel are likely to improve further following the successful execution of its expansion plans, which will be funded using its strong financial resources,' said Standard & Poor's credit analyst Xiaoming Song. The affirmation of the foreign-currency rating on Baoshan Ltd. reflects the company's...
Companies mentioned in this report are: Baoshan Iron & Steel Co. Ltd.,Baosteel Group Corp.
Action: Affirmed
Action: Outlook: Positive
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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