Fitch: Posco view negative

Fitch Ratings said it revised Posco's outlook to negative from stable. The company's long-term foreign currency issuer default rating and senior unsecured debt rating have been affirmed at A-, respectively.

The agency has also affirmed Posco's short-term foreign currency IDR at F2.

Fitch said the outlook revision reflects Posco's worsened leverage as the steel industry cycle is hitting a trough.

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