Fitch rates Baosteel

Fitch Ratings said it assigned Baoshan Iron & Steel Co. Ltd. (Baosteel) a senior unsecured foreign currency rating of BBB+, a short-term rating of F2 and a senior unsecured local currency rating of A-.

The outlook is stable.

Fitch noted the ratings reflect Baosteel's leading position in China's domestic flat steel industry, its healthy business profile in terms of sales and production capacity, its high value-added products, distinct cost advantage due to economies of scale and effective control over operational risk.

The ratings also take into consideration the company's robust financial profile, including low debt, stable profitability and strong cash generating capacity, Fitch added.

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