CHICAGO–(BUSINESS WIRE)–Fitch Ratings has affirmed Companhia Siderurgica Nacional’s (CSN) Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at ‘B-‘. Fitch has also affirmed CSN’s National Scale rating at ‘BB-(bra)’. The Rating Outlook remains Negative. A full list of rating actions follows at the end of this release. The ‘B-‘ rating reflects CSN’s extremely leveraged capital structure and its limited ability to generate substantial cash flow from its steel business in Brazil.
