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Baosteel Group Corp. Feb 09
Standard & Poors, Feb 2009
Abstract
Strong business profile via its 74% ownership of China's leading steel maker Prudent growth strategy and financial profile Track record in expansion Challenges associated with its steel-making assets Risks associated with acquisition-based growth strategy The rating on Shanghai-based steel maker Baosteel Group Corp. reflects Baosteel's strong business profile, which is largely derived from its 74% ownership of Baoshan Iron & Steel Co. Ltd. (A-/Stable/--), China's leading steel maker. The rating also factors in Baosteel's prudent growth strategy and financial profile, which is reflected in the company's well-capitalized balance sheet and strong liquidity position. Baosteel's track record in expansion via both greenfield development and acquisitions also supports the rating. The rating on Baosteel is constrained by the operating challenges associated with...
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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