S&P upgrades CSN on improving fundamentals

S&P upgrades CSN on improving fundamentals

Bonds Debt Capital Markets Fixed Income Brazil US

S&P Global Ratings said it has upgraded Brazilian steel company Companhia Siderúrgica Nacional (CSN) to B from B- thanks to higher iron ore prices and rising demand for steel and cement in the local market. Improving fundamentals, together with debt refinancing, asset sales and the possible initial public offering (IPO) of its mining division, CSN Mineração, could allow CSN to lower debt and finance its "considerable investment plan," including increased iron ore production, S&P said in

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