S&P affirms Posco

Standard & Poor's said it affirmed its A- long-term corporate credit and debt ratings on Posco. The outlook on the long-term corporate credit rating is negative.

The agency said it expects the ratings on Posco to come under pressure over the next six months unless the company undertakes a significant amount of non-debt financing, because weak industry conditions and macroeconomic uncertainty affecting steel producers globally limit its ability to improve its operations this year.

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