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G Steel B+, outlook stable.

Bangkok Post (Bangkok, Thailand)

| September 08, 2005 | COPYRIGHT 2005 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

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 ...

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