posco developing iron ore project in cameroon, page-24

Hi westcott,

I have found the following statement about POSCO (dated of Nov 4th, 2011):

"POSCO’s financial soundness has deteriorated over the past three years due to large investment into expansion of overseas production capacity as well as an increase in self-sufficiency of key raw materials. Operating performance worsened in the third quarter because of growing input costs and limited product price hikes."

"The global credit rater Moody’s revised down on Thursday the outlook for POSCO’s A3 rating to negative from stable."

Source: http://shipbuildingtribune.com

I don't feel very confident that POSCO is in a position to save our asses. The seem to have seriously financial troubles.... UNFORTUNATELY!

regards!