Research Update: China's Baosteel Raised To 'BBB+' From 'BBB' Dec 04

Standard & Poors, December 2004

Abstract
On Dec. 6, 2004, Standard & Poor's Ratings Services raised its corporate credit ratings on Shanghai Baosteel Group Corp. (Baosteel Group) and Baoshan Iron & Steel Co. Ltd. (Baosteel Ltd.), collectively, Baosteel, to 'BBB+' from 'BBB'. The outlook on the ratings is stable. The rating action reflects Baosteel's improved product mix and operating efficiency, as well as a stronger financial profile as a result of an increase in the price of steel. Baosteel is the largest integrated steel manufacturer in mainland China and is the sixth largest worldwide. Baosteel group owns 85% of Baosteel Ltd. The group's core steel businesses accounted for 85% of the group's pretax profit in 2003. The ratings on Baosteel reflect the company's strong position in...

Companies mentioned in this report are: Baosteel Group Corp.,Baoshan Iron & Steel Co. Ltd.
Action: Upgraded

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.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

Baosteel Group Corp.,Baoshan Iron & Steel Co. Ltd.

Customers who bought this item also bought

• China Aged Care Service Industry Report, 2011-2012
• China Aged Care Service Industry Report, 2011-2012
• Economic 360 for China: Growth Prospects and Emerging Opportunities in the Aerospace Industry
• Developing Winning Strategies To Attract Postgraduate Students From China - Summary Report / International Students: Maximising the Potential from China - Segmenting Postgraduates from China
• Global and China Military Industry Report, 2009-2010
• Global and China Military Industry Report, 2009-2010
• Research on Online Education and Training Market in China, 2012-2017
• Research Report on Chinese Securities Industry, 2009
• China Road Construction Industry Report, 2010
• China Road Construction Industry Report, 2010