CSN Seen Encountering Diversification Risk

CSN Seen Encountering Diversification Risk


CSN’s bid for Portuguese cement maker Cimpor could distract it from its core business, according to Fitch, which notes pressure on the Brazilian steelmaker’s investment grade rating. “Cement is a relatively new area of operations for CSN and could divert management's attention from its profitable steel and iron ore operations,” says the agency. “Absent equity financing, this acquisition could potentially increase CSN's total debt-to-Ebitda ratio to more than 3.5x and would put negative pressure

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