CSN's Dominance in Brazil's Steel Industry Considered in Fitch Ratings.Business Editors NEW YORK--(BUSINESS WIRE)--Oct. 2, 2000 Fitch's ratings of Companhia Siderugica Nacional's (CSN CSN Crosby, Stills, and Nash (band) CSN Centrala studiestödsnämnden (Swedish: state education grant and loan program) CSN Confédération des Syndicats Nationaux (French) ) senior unsecured debt Unsecured debt Debt that does not identify specific assets that the debtholder is entitled to in case of default. and export-backed notes reflect the company's position as one of the industry's lowest-cost producers of steel. The international rating agency analyzes CSN in a recently released Credit Analysis report. The Outlook for CSN's ratings is Stable. CSN's use of modern technology, access to inexpensive iron ore and strategic investments that directly affect its energy, transportation and port expenditures solidifies the company's leading position as a low-cost steel producer. "As a direct result of these factors, CSN is able to generate strong cash flows during troughs in the international steel cycle," says Anita Saha, a Fitch analyst who follows Latin industrials. The Fitch report also lists factors that constrain CSN's ratings. "The company's active involvement in debt-financed interest-rate speculation activities, the volatility of the Brazilian economy
CSN is the largest steel producer in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. , with annual production of 4.8 million tons of crude steel. The company's integrated steelworks located in the state of Rio de Janeiro Rio de Janeiro, city, Brazil Rio de Janeiro (rē`ō də zhänā`rō, Port. rē`  thĭ zhənĕē`r produce steel slabs and hot- and cold-rolled coils and sheets for the automobile, construction and appliance industries. Fitch's Credit Analysis report on CSN is available at `www.fitchratings.com.' Fitch is an international rating agency that provides global capital market investors with the highest quality ratings and research. Dual headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and London with a major office in Chicago, Fitch rates entities in 75 countries and has some 1,100 employees in more than 40 local offices worldwide. The agency, which is a combination of Fitch IBCA IBCA International Braille Chess Association IBCA Institute of Burial and Cremation Administration IBCA Integrated Business Communications Alliance IBCA International Barbeque Cookers Association IBCA Department of Interior Board of Contract Appeals and Duff & Phelps Credit Rating Co., provides ratings for Financial Institutions, Insurance, Corporates, Structured Finance, Sovereigns and Public Finance Markets worldwide. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion