Fitch affirms Posco

Fitch Ratings said it affirmed Posco's long-term foreign-currency issuer default rating and senior unsecured debt rating at A-, short-term rating at F2.

The outlook remains stable.

The ratings reflect Posco's position as the world's third-largest fully-integrated steel manufacturer, its cost-cutting leadership and the management's capability to successfully develop cost-effective technology, Fitch said.

The ratings also take into account the inherent cyclicality of the steel sector, along with the price risk and non-availability of raw materials in the industry, the agency said.

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