S&P rates Erdemir BB-

Standard & Poor's said it assigned its BB- long-term corporate credit rating to Turkish Eregli Demir ve Celik Fabrikalari TAS (Erdemir). The outlook is developing.

S&P said the ratings on Erdemir reflect risks associated with a very ambitious restructuring and growth plan, as well as country risk and uncertainties over the future ownership and management of the company.

These factors are offset by Erdemir's position as a low-cost flat steel producer and the largest steelmaker in a country with good growth prospect for steel consumption, the rating agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.