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S&P affirms CSN
Standard & Poor's said it affirmed its BB+ long-term corporate credit rating on Companhia Siderurgica Nacional and removed the ratings from CreditWatch negative, where they were placed in December.
The outlook is positive.
The action reflects the company's cancellation of its unsolicited bid to acquire shares of Cimpor Cimentos de Portugal SGPSA because Siderurgica Nacional was unable to acquire shares equivalent to one-third of Cimpor's capital, S&P said.
Siderurgica Nacional has canceled its unsolicited bid and has not acquired any shares of Cimpor, the agency said.
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