Moody’s changes Posco to negative

Moody's Investors Service said it revised Posco's rating outlook to negative from stable and affirmed its Baa2 senior unsecured ratings and provisional Baa2 senior unsecured shelf ratings.

"The negative outlook mainly reflects Posco’s weaker-than-expected earnings in 2015 and the increasing likelihood that Posco’s financial profile will remain weak for its Baa2 rating over the next 12-18 months, as challenging conditions in the Asian steel industry should continue to pressure its earnings," Moody's associate managing director Chris Park said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.