Moody's changes Posco E&C view to stable

Moody's Investors Service said it affirmed the Baa3 issuer rating of Posco Engineering & Construction Co. Ltd. (Posco E&C).

The outlook was revised to stable from negative.

"The rating action primarily reflects a significant improvement in Posco E&C's financial profile in 2013 and our expectation that its credit profile will remain in line with its standalone credit quality over the next 12-18 months," Moody's vice president and senior credit officer Chris Park said in a news release.

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