Moody's: POSCO's 2016 results in line with its rating
Hong Kong, January 26, 2017-- Moody's Investors Service says that POSCO's financial results for 2016 were generally in line with the steelmaker's Baa2 senior unsecured rating and stable rating outlook. "POSCO's financial profile improved significantly in 2016, underpinned by a recovery in earnings and debt reductions," says Joe Morrison, a Moody's Vice President& Senior Credit Officer. Moody's estimates that POSCO's adjusted debt/EBITDA fell to about 4.0 x in 2016 from 4.7 x in...
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