Industry Report Card: Latin America Metals & Mining Jul 02
Standard & Poors, July 2002
Abstract
The near-term outlook for credit quality in the base metals sector remains negative given the uncertain global economic outlook that will continue to suppress low aluminum, copper and nickel prices. Alternatively, the tariffs imposed by President Bush and the EU on imported steel will likely provide some stability to steel company ratings for the respective regions but the outlook for steel companies in Latin America, Asia and the Commonwealth of Independent States remains murky (see "U.S. Steel Tariffs: Who Gains, Who Loses, And at What Price-", dated March 14, 2002, on RatingsDirect, Standard & Poor's Web-based credit analysis system). Among precious metals, gold is benefiting somewhat from a flight to safety and producers proposing to unwind hedge books. The recession...
Companies mentioned in this report are:
- Australia (Commonwealth of) (Unsolicited Ratings)
- Nucor Corp.
- ALCOA Aluminio S.A.
- Japan (Unsolicited Ratings)
- Chile (Republic of)
- Argentina (Republic of) (Unsolicited Ratings)
- Minera Mexico S.A. de C.V.
- Ispat Mexicana S.A. de C.V.
- Acindar Industria Argentina de Aceros S.A.
- Industrias Penoles S.A.B. de C.V.
- Steel Dynamics Inc.
- Hylsa S.A. de C.V.
- Ternium Mexico S.A. de C.V.
- Corporacion Nacional del Cobre de Chile
- Minera Escondida Ltda.
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Australia (Commonwealth of) (Unsolicited Ratings)
- Nucor Corp.
- ALCOA Aluminio S.A.
- Japan (Unsolicited Ratings)
- Chile (Republic of)
- Argentina (Republic of) (Unsolicited Ratings)
- Minera Mexico S.A. de C.V.
- Ispat Mexicana S.A. de C.V.
- Acindar Industria Argentina de Aceros S.A.
- Industrias Penoles S.A.B. de C.V.
- Steel Dynamics Inc.
- Hylsa S.A. de C.V.
- Ternium Mexico S.A. de C.V.
- Corporacion Nacional del Cobre de Chile
- Minera Escondida Ltda.
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