Moody's may lift Posco

Moody's Investors Service said it placed Posco's A2 long-term foreign-currency rating on review for upgrade.

"The rating action recognizes Posco's ongoing progress in strengthening its product mix while maintaining a conservative financial profile," Terry Fanous, a Moody's senior vice president and lead analyst for the Korean steelmaker, said in a written statement.

"The progress in product mix is evidenced by the continued growth in the proportion of Posco's high-grade strategic products, which enjoy higher and more stable margins, coupled with its ongoing focus on cost improvements," Fanous said.

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