20
May
10:29
Moody’s downgrades Baosteel
Ratings agency Moody’s says it has downgraded China’s Baosteel due to its shrinking profits and increasing debt burden. The company remains relatively highly rated but the move will be unwelcome considering the importance of reducing financial costs this year, Kallanish notes.
Moody’s has cut both Baosteel Group Corporation and the listed Baosteel from A3 to Baa1, a move which will likely increase the steelmaker’s borrowing costs. "W…
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Anonymous
Very good overview of the weekly steel market.
Anonymous