Moody’s revises Posco view to stable

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

"The rating action mainly reflects our expectation that Posco's financial profile will improve significantly for all of 2016, and stay stable over the next 12-18 months, underpinned by a recovery in earnings and debt reductions," Moody's vice president and senior credit officer Joe Morrison said in a news release.

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