Moody's says China Baowu Steel nears full merger with Wuhan Steel; no rating impact
Hong Kong, December 06, 2016-- Moody's Investors Service says that China Baowu Steel Group Corporation Limited's progress in its merger with Wuhan Iron& Steel Co. has no impact on its Baa1 issuer and senior unsecured ratings and negative outlook. On 1 December 2016, Baosteel Group Corporation announced that it had changed its name to China Baowu Steel Group Corporation Limited. The name change is a step towards the final merger between the two companies.
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