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Sep. 8--Standard & Poor's has assigned a B+ corporate credit rating to G Steel Plc with a stable outlook.
The agency also assigned a B+ rating to G Steel's proposed issue of $150 million in senior unsecured notes with a maturity of five to seven years.
"The rating on G Steel factors in its favourable market position, moderate capital structure, and steady steel demand growth in Thailand," said S&P analyst Cheow Hon Lee. "Nevertheless, the rating is constrained by inherent industry risk, G Steel's site-concentration risk, lack of product diversity, and increased financial and execution risk associated with its ...