.jpg?lang=en-US&ext=.jpg)
-(1).gif?width=220&height=200&mediaprotectionhash=8011a71ede637cd523c67b1296fc49e6151560fde821a46f29cc85998cc76615&ext=.gif)
Posco Awarded Highest Credit Rating among Global Steelmakers
11/12/2007 - Posco has received an A1 rating from global credit assessment institute Moody’s—the highest credit rating among global steelmakers.
Posco has received an ‘A1’ rating from global credit assessment institute Moody’s. The A1 rating—the highest credit rating among global steelmakers—is one level higher than the A2 rating the Korean government had received.
Among global steel manufactures, Posco and Nippon Steel Corp. were the only companies that were credited A1 from Moody’s. Posco attributes its upgrade from ‘A2 (Positive)’ to ‘A1 (Stable)’ to its healthy financial status and continued high profitability, which were realized by sales growth and cost-saving efforts in strategic products.
Moody’s forecasted that it would maintain Posco’s credit rating at this level as long as Posco continues to pursue its global growth strategies and as long as serious recessions don’t affect the global steel industry.
Prior to this, Posco had received ‘A- (Stable),’ the highest rating among international steel makers, from global credit rating institute Fitch in May, and an ‘A (Stable)’ from Standard & Poor’s (S&P) in February.
Posco’s status has been further enhanced with this upgraded credit rating. The upgrade also means that Posco will be able to take advantage in deciding its price and interest rate when issuing its bonds overseas.
Specialized credit rating institutes provide global credit ratings to investors after thoroughly analyzing the management system and financial status of public and private companies.
Moody’s forecasted that it would maintain Posco’s credit rating at this level as long as Posco continues to pursue its global growth strategies and as long as serious recessions don’t affect the global steel industry.
Prior to this, Posco had received ‘A- (Stable),’ the highest rating among international steel makers, from global credit rating institute Fitch in May, and an ‘A (Stable)’ from Standard & Poor’s (S&P) in February.
Posco’s status has been further enhanced with this upgraded credit rating. The upgrade also means that Posco will be able to take advantage in deciding its price and interest rate when issuing its bonds overseas.
Specialized credit rating institutes provide global credit ratings to investors after thoroughly analyzing the management system and financial status of public and private companies.
