TEXT-S&P: 2013 could be tough for global metals, mining
Jan 7 - Standard & Poor's Ratings Services has published an FAQ article titled, "Global Metals And Mining Sector Could Have It Tough In 2013," which discusses the difficulties it believes that sector will encounter throughout the year. Standard & Poor's believes economies in many regions remain fragile and demand for commodities such as steel has weakened as a result. "While this overall outlook won't necessarily translate into sharply declining credit quality, we could downgrade some of the borrowers we rates unless business conditions improve significantly in the near term," said Standard & Poor's credit analyst Michael Scerbo. Some of the frequently asked questions covered in the article include: -- Given Standard & Poor's forecast for eurozone GDP to be flat in 2013, what can Europe's metals and mining sectors expect? -- How does the U.S. outlook compare with Europe? -- Does a slightly better economic outlook overall in Asia-Pacific translate into more stable credit quality for metals and mining companies there? -- Given the somewhat rosier economic outlook in South America, how does the ratings outlook on metals and mining companies in the region compare? -- How does Standard & Poor's see ThyssenKrupp's planned sale of its 73%-owned slab-making venture CSA? The report is available to subscribers of RatingsDirect on the Global Credit Portal at www.globalcreditportal.com. If you are not a RatingsDirect subscriber, you may purchase a copy of the report by calling (1) 212-438-7280 or sending an e-mail to email@example.com. Ratings information can also be found on Standard & Poor's public Web site by using the Ratings search box located in the left column at www.standardandpoors.com.
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