Fitch affirms Posco

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

The outlook remains stable.

The ratings reflect Posco's position as the fourth-largest fully-integrated steel manufacturer globally, Fitch said, along with its competitive cost position and management's capability to successfully develop cost-effective technology.

But, the current economic downturn is having a major impact on the steel sector, with reduced demand from most related industries, the agency said.

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