Moody’s assigns Posco notes Baa1

Moody’s Investors Service said it assigned Posco’s planned dollar-denominated senior unsecured notes a Baa1 rating.

“Posco's Baa1 ratings primarily reflect its parent Posco Holdings Inc.'s Baa1 issuer rating because of the close credit linkage between the two entities in terms of credit quality. This assessment is underscored by Posco's status as a wholly owned, key operating subsidiary of Posco Holdings,” Moody’s said in a press release.

Posco will use the proceeds for refinancing debt and for other general corporate purposes.

The outlook is stable.

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