TEXT-S&P:Ratings on Hyundai Steel affirmed;outlook stable

Newswire

(The following statement was released by the rating agency) Sept 25 - Standard & Poor's Ratings Services today affirmed its 'BBB-' long-term corporate credit and debt ratings on Korea-based steelmaker Hyundai Steel Co. At the same time, we kept the outlook on the ratings at stable. However, we lowered the standalone credit profile (SACP) for Hyundai Steel to 'bb' from 'bb+' while reflecting two notches of support from its parent Hyundai Motor Group (the group), whose core ...

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