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Baoshan Iron & Steel Co. Ltd. Dec 05
Standard & Poors, Dec 2005
Abstract
Strong domestic market position; Improving product mix; Increasing integration and improving operating efficiency; Competitive cost position; Growth market; and Strong financial profile. Highly cyclical industry; Increasing competition; Exposure to rising production costs; and Uncertainties over expansion and industry consolidation. The rating on Baoshan Iron & Steel Co. Ltd. (Baosteel Ltd.) reflects the company's strong market position in the Chinese steel industry; an improving product mix, with a focus on high-value-added products; increasingly integrated operations; improving operating efficiency; a competitive cost position; and strong financial profile. These strengths are offset by the cyclical nature of the steel industry, increasing competition, the company's dependence on imported key raw materials, and its exposure to rising production costs. The rating also reflects Standard &...
Companies mentioned in this report are: Baoshan Iron & Steel Co. Ltd.,Baosteel Group Corp.
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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