16
Jun
01:00
Fitch cuts CSNs ratings on weak domestic demand, low iron ore prices
The capital structure of Brazilian flat steelmaker Companhia Siderurgica Nacional (CSN) has deteriorated due to high capital expenditure, weak domestic steel demand and a sharp decline in iron ore prices, Fitch says.
This has led to a downgrade in the company’s issuer default ratings to BB from BB+, and its national scale rating to AA- (bra) from AA (bra), while the outlook on the ratings remains “negative”. The rating action also reflects …
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Anonymous
Very good overview of the weekly steel market.
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