10
Nov
13:43
Steel rebound supports Senaat rating upgrade
Emirates Steel (ESI) parent company General Holding Corporation (Senaat)'s issuer rating has been upgraded to A1 from A3 by Moody's. The move partly reflects the recovery in steel sales since the Covid-hit year of 2020.
The outlook on all ratings has been changed to stable from negative, Kallanish notes.
The upgrade also reflects the full integration of Senaat under its parent company, Abu Dhabi Developmental Holding Company (ADQ). The Government of …
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Anonymous
Very good overview of the weekly steel market.
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