MINING FINANCE / INVESTMENTMETALS DEMAND MAY HAVE HIT FLOOR
For U.S. metals and mining, gold is all that glitters - S&P
Although the financial ratios of U.S. metals and mining companies will continue to weaken, Standard & Poor's expect credit trends to slowly start to improve in the sector during the next several quarters.
Author: Dorothy Kosich
Posted: Thursday , 02 Jul 2009
RENO, NV -
Gold continues to be a rare bright spot for U.S. metals and mining companies, while steel continues to be of concern to the credit analysts at Standard & Poor's.
Meanwhile, S&P's outlook for the U.S. metals and mining sector remains negative, "given the poor operating environment and deteriorating credit quality."
In an industry report card published Wednesday, Credit Analysts Marie Shmaruk, Michael Scerbo, Maurice Austin and Sherwin Bradford estimated that S&P has downgraded 20 domestic mining and metals companies since the beginning of this year.
Gold stocks do well
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