Hanshin Rating, POSCO Credit Rating Outlook Downgraded from 'Positive' to 'Stable'
[Asia Economy Reporter Minji Lee] Korea Credit Rating Agency announced on the 18th that it has downgraded the credit rating outlook of POSCO's unsecured bonds (AA+) from 'positive' to 'stable.'
Korea Credit Rating Agency stated, "Although the fundamental profit-generating capability is excellent, a decline in profitability is inevitable for the time being due to the deterioration of steel supply and demand caused by the recent global economic downturn," adding, "Considering the weakened market conditions, the pace of profitability improvement will slow down."
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It further explained, "The global-level business competitiveness and market responsiveness based on a diverse product portfolio are very strong," but also noted, "However, monitoring is necessary regarding any changes in financial policy."
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