Hot steel focus information many companies' credit

2022-08-08
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Steel focus information: the credit rating downgrades of many companies reflect the difficulties of the steel and other industries

yesterday, the judgment standard of the main credit tracking rating outlook experimental machine quality of Tianshan shares by the rating agency China bond credit was adjusted from stable to negative. According to statistics, in the past three months, rating companies have successively downgraded the credit rating of punch and die bonds of many listed companies and bonds according to the thickness of the sample and the schedule, which means that the risk of related corporate bonds has increased. These downgraded companies are mainly distributed in steel, wind power and other fields, reflecting the "dilemma" of related industries. A number of companies have been downgraded. The main credit tracking rating results of the rating agency China national debt and credit trust group can move mountain shares on the scale show that the credit rating is aa-, which remains unchanged, but the rating outlook has been adjusted from stable to negative, and the rating time is June 9, 2013. China National Debt Credit pointed out that although the company is a regional leader in the cement industry, under the pressure of capacity investment in Xinjiang market, the market price has declined significantly, the company's capacity utilization may not be significantly improved, the operating risk has increased compared with previous years, and the financial indicators have also been significantly weakened compared with previous years. Based on many factors, the above rating results are given. A long-term tracking bond researcher pointed out that although the company's credit rating has not changed yet, the negative rating outlook implies that the credit rating of JIS A 1514 (1) 993, the company's anti condensation performance test method for doors and windows, may be lowered in the future. Tianshan shares is not alone. According to the statistics of Shanghai Securities News, nearly 20 listed companies have been downgraded in terms of main body and bond credit rating since this year. It is particularly noteworthy that this phenomenon occurred after April. According to the investigation, credit rating is generally divided into subject credit rating and debt credit rating. In short, the two rating objects are different. The former is the subject of issuing bonds, and the latter is the bond itself. A long-term tracking bond researcher pointed out that in most cases, the two are linked because the quality of the subject's credit directly affects the bond itself. The above researcher further pointed out, "the credit rating downgrades of some companies began to increase gradually in 2012. Since 2013, under the influence of the continued weakening of the macro economy, we also found that the number of companies that have been downgraded recently has indeed increased." Reflecting the downturn in the prosperity of relevant industries, the cement industry in which Tianshan shares is located continues to be depressed, and the performance of conch cement and many other cement companies has fallen sharply. In addition, the companies that downgraded were mainly concentrated in steel, wind power and other industries. In May this year, the tracking rating report of the rating agency zhongchengxin on Linggang shares pointed out that the company's main credit rating was AA, the rating outlook was adjusted from stable to negative, and the credit rating of corporate bonds in 2011 was lowered from the original aa+ to AA. Similar cases include Anyang Iron and Steel Co., Ltd. and zhongchengxin lowered the credit rating of the company's main body and bonds to aa-. The reasons given for the downgrade are similar. Zhongchengxin pointed out that the price of the company's products fell and its profitability weakened. At the same time, the prosperity of the steel industry is still low, and the possibility of short-term substantial growth in the downstream market is low, which will restrict the performance of the company. In fact, with the emergence of overcapacity and other problems in the steel industry, the performance of steel companies has been declining in recent years, and the share prices of related companies have also "fallen endlessly", and most steel companies have broken the net. In the wind power industry, which continues to weaken, many companies have also been downgraded. In May this year, the credit ratings of Sinovel wind power and bonds were lowered to AA by united credit, and the credit of Xiangdian was also lowered. Insiders pointed out that credit rating is to judge the risk of bonds, so as to help investors make decisions and balance the relationship between risk and income. In other words, the credit rating of bonds is a ruler to measure the risk of bonds. After the bond rating is lowered, it means that the company's solvency is weakened, which affects the transaction price of bonds. On the other hand, the liquidity of bonds will also be affected. For example, after the credit of Anyang steel was lowered, according to the relevant provisions of the Listing Rules of corporate bonds of Shanghai Stock Exchange, it has not met the basic conditions of bond pledge repo transactions

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