Fitch Ratings has affirmed ThyssenKrupp AG's Long-term Issuer Default Rating and senior unsecured rating at 'BBB-'. The Outlook is Negative. The Short-term IDR has been affirmed at F3.
The affirmation reflects Fitch's view that TK will be successful in selling its two American steel assets (Steel Americas) by the end of 2013 for a combined value of at least USD 3 billion with proceeds retained for debt reduction. If the sales process is materially delayed or the group is ultimately unable to sell the assets, a downgrade of the ratings would be likely. This possibility is reflected in the Negative Outlook.
Source:
http://www.steelguru.com/international_news/Fitch_affirms_ThyssenKrupp_AG_at_BBB_rating/296235.html
